Bitcoin SV (BSV) - a common fork of BCH with its main goal to preserve the essence of Bitcoin in order to provide a large scale coin.
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How does Bitcoin SV (BSV) work?
Bitcoin SV (BSV) emerged after the hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which, in turn, was forked from the BTC blockchain. BSV aims to offer scalability and stability in line with the original description of Bitcoin as a peer-to-peer electronic cash system. It also provides a distributed data network that can support advanced enterprise-grade blockchain applications.
To this end, the project removed artificial block size limits and re-enabled Script commands and other technical features that were disabled or limited by the developers of the BTC blockchain protocol. This allows the network to process tens of thousands of transactions per second while keeping transaction fees for micropayments extremely low.
Project benefits
The BSV network is unique in its ability to scale unlimitedly on-chain and is also more aligned with the original design of Bitcoin than any other blockchain.
BSV differs from other versions of Bitcoin:
| 1 | Its commitment to the original Bitcoin protocol, it focuses on realizing the vision of the Bitcoin network. |
| 2 | BSV aims to offer a scalable and usable blockchain platform for efficient payments and distributed data processing applications for consumers, enterprises and government users. |
The project can scale with market forces and meet the needs of any application and payment network. In 2021, the BSV network mined the world's first gigabyte level blocks - reaching up to 2GB in August 2021. The capacity of the BSV network block is expected to continue to grow to support more transactions and data usage.
BSV also offers a scalable and product-ready platform for blockchain application developers, many of whom have migrated from other networks such as Ethereum. VSV is able to scale with user adoption, meaning developers can be confident that transaction fees will remain low and interactions will be processed quickly. The functionality of the platform is attractive to all users, and the blockchain offers an efficient and stable platform.
Buying coins
As defined in the original Bitcoin protocol, there is a maximum of 21 million BSV coins in circulation. Fresh coins from this circulation go to BSV miners with the block rewards they earn in addition to transaction fees for validating blocks. Bitcoin SV is available on major exchanges, including:
- OKEx;
- KuCoin;
- Huobi;
- Bitfinex;
- Bittrex;
- Bithumb.
Cryptocurrency mining is possible on any ASIC equipment. The cryptocurrency has been adopted by the largest exchanges that have previously partnered with Bitcoin Cash.