Background Behind Bitcoin SV (BSV)
Bitcoin SV arose from the hard fork of Bitcoin Cash that materialised on November 15, 2018, due to the belief that the scalability features Bitcoin Cash had accomplished were not significant enough to meet Bitcoin’s ongoing requirements. Craig Wright is the founder of Bitcoin SV and, by no coincidence, is claiming to be Satoshi Nakamoto, the founder of the original Bitcoin.
Bitcoin SV proponents and Craig Wright claim that BSV is the actual Bitcoin, maintaining the original vision of Satoshi Nakamoto. The Bitcoin white paper states the cryptocurrency should be seen as electronic cash. The idea that Bitcoin is electronic cash is fundamental to the creation of BSV or, some would say, the restoration of Bitcoin to the original protocol.
Bitcoin SV Basics
BSV aims to have a determinate protocol structure in order to distribute the kind of stability prospective investors and enterprise-size applications tend to seek.
The Bitcoin SV protocol is intended to be highly scalable and regulation-friendly to garner mainstream assured, and eventually global enterprise adoption. Despite these laudable goals, it remains to be seen whether the project can maintain long-term viability.
For one thing, big blocks are faster, though they sacrifice decentralisation because fewer full nodes are able to store the entire blockchain history due to the increased memory requirements. In other words, small blocks are slower but maintain the key advantages of decentralisation and security because more nodes can join and maintain the network.
Speed and decentralisation essentially exist on a spectrum, so the more you have of one, the less you have of the other.
Bitcoin SV Blockchain
BSV is the native cryptocurrency of the Bitcoin SV blockchain. The main diversity between the Bitcoin protocol and Bitcoin SV’s protocol is that the Bitcoin SV network anticipates a larger block size. Bitcoin (BTC) has a 1 megabyte block size while Bitcoin SV was originally created with a block size of 128 MG.
Bitcoin SV Staking
Like many other cryptocurrencies, you can stake Bitcoin SV and earn rewards
Bitcoin SV Mining
A blockchain network such as Bitcoin SV (BSV) is secured by participants called miners. They maintain the network by not only securing the decentralised ledger but also adding in newly-minted coins which are issued as mining rewards.
Bitcoin SV (BSV) Transaction Fee Speed
Bitcoin SV, with a capacity of over 50,000 transactions per second, is designed to handle high-speed token transfers. Tokenization enables secure and efficient management of digital and physical assets.
Bitcoin SV Supply
BSV has a circulating supply of 19.27 M BSV and a max supply of 21 M BSV.
Bitcoin SV (BSV) Security and Safety
BSV proves to be a security system that’s effective and highly secure, covering all of the bases of the CIA Triad of Information Security: confidentiality, integrity, and availability of data.
Bitcoin SV Volatility
Volatility in bitcoin SV (BSV) raises concerns about the resilience and stability of the world’s fifth-largest cryptocurrency.
Review and Final Thoughts on Bitcoin SV (BSV)
The Bitcoin SV project was created to restore the original Bitcoin protocol. Nowadays, Bitcoin SV is one of the top 60 most important cryptocurrencies, and we can expect it to reach the top 20 list in the future.
Bitcoin SV is Fast, Scalable, Environmentally-efficient and Regulation-friendly. What more would you ask