Exchange Bitcoin SV (BSV) at the Best Rates

Bitcoin SV: Global Infrastructure on the Original BTC Blockchain

Bitcoin SV, or Bitcoin Satoshi's Vision, is a Proof-of-Work (PoW) blockchain that was eventually created through a fork in the Bitcoin Cash (BCH) blockchain from the Bitcoin (BTC) network. The BSV blockchain is supported by the Bitcoin Association. The native coin of Bitcoin SV is BSV. Let’s take a closer look at BSV crypto and the project’s characteristics.

BSV coin price today is $36.93. 

What Is Bitcoin SV?

The Bitcoin Cash (BCH) network underwent a hard fork in November 2018, giving rise to the cryptocurrency known as Bitcoin SV (BSV). Since it is meant to be a return to the original vision of Bitcoin as articulated by its creator, Satoshi Nakamoto, in the Bitcoin whitepaper, the acronym ‘SV' stands for ‘Satoshi Vision.’ Bitcoin SV intends to produce a stable and scalable blockchain that can sustain a high volume of transactions and be used as a global payment network.

The group that created Bitcoin SV, Craig Wright and Calvin Ayre, felt that Bitcoin Cash had deviated too much from the white paper's initial definition of the cryptocurrency and that a more suitable cryptocurrency should be developed. They thought that this meant going back to the original Bitcoin system and raising the block size to 128 MB. With its own blockchain and user base, Bitcoin SV has operated independently of other cryptocurrencies ever since the fork.

Bitcoin SV: Features

For its end users, Bitcoin SV has a number of useful features:

1. Block time: The block time of a cryptocurrency refers to the average amount of time it takes for a new block to be added to the blockchain. The block time of Bitcoin SV is 10 minutes, which is the same as the original Bitcoin. This means that a new block is added to the Bitcoin SV blockchain approximately every 10 minutes. A shorter block time can potentially lead to faster transaction speeds, as there is less time to wait for a new block to be added.
2. Transaction time: The transaction time of a cryptocurrency refers to the amount of time it takes for a transaction to be processed and included in a block. The transaction time on Bitcoin SV is significantly less than all the major cryptocurrencies, which makes it an ideal candidate for peer-2-peer transactions.
3. Transaction fees: Transaction fees are paid by users to incentivize miners to include their transactions in a block. The larger block size and faster transaction times of Bitcoin SV lead to lower fees of just $0.0006 for users, as there is more capacity for transactions to be processed without requiring a high fee to be included.
4. Mining algorithm: The mining algorithm of a cryptocurrency is the process that is used to create new blocks and secure the network. In the case of Bitcoin SV, the SHA-256 (Secure Hash Algorithm 256-bit) algorithm is used, which is a cryptographic hash function that is the same as Bitcoin. This means that miners can use the same hardware to mine Bitcoin SV as they would use to mine Bitcoin and block rewards for mining are also gradually reduced by increments of 50% in a process known as halving.
5. Scaling: The larger block size of Bitcoin SV allows for increased scalability compared to the original Bitcoin and Bitcoin Cash. This means that the Bitcoin SV network can potentially handle more transactions per second, making it suitable for a wider range of use cases.
6. Decentralization: Decentralization refers to the distribution of power and control within a network. A decentralized network is one in which no single entity or group has too much influence over the network. Bitcoin SV claims to be more decentralized than other cryptocurrencies due to its large block size, which allows more miners to participate in the network and earn rewards.
7. Security: The SHA-256 mining algorithm used by Bitcoin SV is designed to be secure and resistant to attacks. In addition, the decentralized nature of the network can also contribute to its security, as it makes it more difficult for a single entity to compromise the network.
8. Programmability: Bitcoin SV includes additional opcodes in its scripting language, which are commands that can be used to create more complex smart contracts and applications on top of the network. These opcodes allow developers to build more sophisticated and powerful applications, which could potentially increase the utility and adoption of the cryptocurrency.
9. Smart contracts: Bitcoin SV’s blockchain technology can be used to facilitate the execution of smart contracts. A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. When certain conditions are met, the contract is automatically executed, eliminating the need for intermediaries. This can increase efficiency and reduce the risk of errors or disputes.
10. Payment channels: Another feature of Bitcoin SV is the ability for users to leverage payment channels. A payment channel is a transaction that is valid but will not be accepted into a block until some future time and date. In the intervening period, the parties to the transaction have the freedom to publish new updates which change aspects of its contents such as data packets being shared, amounts being paid and much more, enabling innovative and highly compelling digital services to be managed within the transactions themselves. Payment channels are a ground-breaking new technology, only supported by the BitcoinSV network.

Bitcoin SV: Latest News and Developments

The goal of the BitcoinSV node software team is to optimize software performance in order to ensure that the network scales smoothly. They may accomplish this goal by maintaining consistency in the underlying base protocol. The BitcoinSV node software's constant efficiency enhancements and unchanging base protocol not only aid in node scaling but also guarantee that the network will remain stable even in the case of a major loss of processing power. One of the main pillars of the network's strong architecture and capability is scaling the node client and the systems that power it. 

BSV crypto experienced a surge of more than 60% at the end of December 2023, propelling its price to $93.8, a level not observed since April 2022. Even though the price has since leveled off at $88, this latest surge has increased its monthly gains to 82%, which has caused its trading volume to soar above $770 million. According to data compiled by CoinGecko, a significant 65% of the trading volume is concentrated on Upbit, South Korea’s largest exchange. Additionally, Bitcoin SV gets listed on new trading platforms, for instance, BitGet. In July 2023, the BitcoinSV brands unified under the BSVblockchain umbrella, streamlining the project.

Is Bitcoin SV a Good Long-Term Investment?

Undoubtedly, Bitcoin SV is in a good position because it solves the numerous bottleneck problems that other networks encounter. With testing showing that the system could support 50,000 transactions per second, it can now support the speed of business transactions in the future. Not only is it quick, but the BSV blockchain has the least amount of environmental impact of any blockchain network and offers commercial services including merchant services and micropayments.

Many experts believe that the Bitcoin SV price is going to rise in the next few years. For instance, CoinMarketCap analysts think that it is anticipated that the cryptocurrency could potentially experience a significant surge, reaching as high as $290.03 in 2028.

How to Buy Bitcoin SV (BSV) Coin?

StealthEX is here to help you buy BSV coin. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

Just go to StealthEX and follow these easy steps:

1. Choose the pair and the amount you want to exchange — for instance, BTC to BSV. 
2. Press the “Start exchange” button.
3. Provide the recipient address to transfer your crypto to.
4. Process the transaction.
5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.