Bitcoin SV (BSV)
Bitcoin SV statistic
What Is Bitcoin SV?
Bitcoin SV (Bitcoin Satoshi Vision, BSV) is a payment system and cryptocurrency of the same name. Bitcoin SV is a hard fork of Bitcoin Cash and is positioned by its creators as the "original" of Bitcoin (BTC).
Who Created Bitcoin SV And When?
The founder of the Bitcoin SV project is an Australian entrepreneur and programmer Craig Stephen Wright. Since 2019, the CEO of nChain has been held by David Washburn, a former investment banker, and manager of Canadian Cash Equities.
On August 1, 2017, a new cryptocurrency called Bitcoin Cash (BCH) emerged as a result of the Bitcoin (BTC) headfork.
The reason for the hard fork was the divergence in the views of the developers on the development of the network – some of them believed that bitcoin ceased to correspond to its original purpose as a peer-to-peer digital currency and needed a different approach to scaling.
Over time, within the Bitcoin Cash developer community, their own disagreements began to grow. The new conflict was distinguished by a more aggressive and irreconcilable position of the parties.
The immediate cause of the split was the proposal by the Bitcoin ABC team to make significant updates to the Bitcoin Cash codebase. The nChain team did not agree with these proposals and developed their own update, incompatible with Bitcoin Cash. The parties refused to compromise and released their updates.
On November 15, 2018, a hard fork took place on the Bitcoin Cash network at block 556'767, as a result of which Bitcoin ABC (BCHABC) became an extension of the Bitcoin Cash blockchain, and Bitcoin SV (BSV) became an alternative blockchain.
Craig Wright believed that the changes proposed by competitors threatened to deviate from the original intention of Satoshi Nakamoto, so the version created by his team received the SV prefix – Satoshi Vision.
How Are Bitcoin SV tokens issued?
The token emission limit is 21,000,000 BSV. The emission, as in other cryptocurrencies based on the Proof-of-Work algorithm, is carried out through mining. The reward to miners for the block found is 6.25 BSV.
What Is The Consensus Mechanism In Bitcoin SV?
Like Bitcoin, Bitcoin SV operates on a Proof-of-Work consensus mechanism (Nakamoto Consensus).
How Is Bitcoin SV Mining Carried Out?
Since Bitcoin SV is a Bitcoin hard fork, it has the same blockchain architecture. Blockchain is a ledger of a sequence of blocks. Each block has a name that contains data about the previous block and a key from the next one.
Bitcoin SV uses the same mining algorithm as Bitcoin and Bitcoin Cash — SHA-256.
What Are The Unique Features Of BSV Coin?
- Further technical development of the BTC blockchain.
- Theoretical scalability.
- Listing on many leading crypto exchanges.
- Claim to implement Satoshi Nakamoto's actual (“original”) vision.
How Is Bitcoin SV Evolving?
On April 10, 2020, the first halving took place on the Bitcoin SV cryptocurrency network, as a result of which the reward to miners decreased from 12.5 BSV to 6.25 BSV. After the halving, the BSV hash rate in the SHA-256 aggregate score fell 50%, from 2.4% to 1.2%.
On April 29, 2020, the creators of Bitcoin SV announced the approach of the transaction processing speed to the VISA standard. At its peak, the figure reached 6400 t/s. The maximum block size processed by the Bitcoin SV Scaling Test Network (STN), which tests the limits of cryptocurrency scaling, reached 1.92 GB and contained 7,877 transactions.
In November 2020, Blockstream co-founder Gregory Maxwell exposed the Bitcoin SV multi-signature vulnerability. Maxwell stated that the multi-signature system does not provide security for user assets.
What Is Bitcoin SV Price?
BSV coin price now is 171.33 USD.
What Is Bitcoin SV Price Prediction?
Certain analysts predict that BSV in 2021 will be traded in the $125-184 range. For 2022, they expect a lower trading range of $96-170. By 2023, BSV should grow and establish $120 as the lowest possible price and $235 as the highest.
“Bitcoin SV is Bitcoin.” — Craig Wright, an Australian entrepreneur and Chief Scientist at nChain, who claims to be Satoshi Nakamoto.
“I will follow the longest chain but that will be Bitcoin SV which is the largest and most popular implementation.” — Calvin Ayre, a Canadian billionaire and the founder of the Ayre Group.
“Bitcoin SV is now leading the Bitcoin industry, even helping other projects that deviated from the Satoshi Vision for Bitcoin” — Jimmy Nguyen, the founding president of Bitcoin Association.
How To Buy BSV?
If you are looking for where to buy BSV coin, we will show you how to buy Bitcoin SV cryptocurrency for another crypto using the StealthEX exchange platform. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in BSV coin, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to BSV.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your BSV coins.