What is Bitcoin SV?

Bitcoin SV (BSV) is a cryptocurrency that was created in November 2018 as a result of a hard fork of the Bitcoin Cash (BCH) blockchain.

It is an open source, peer-to-peer digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin SV stands for “Satoshi Vision” and is intended to be a more decentralized version of Bitcoin Cash. The main goal of Bitcoin SV is to restore the original Bitcoin protocol as described by Satoshi Nakamoto in the original whitepaper.

This includes increasing the block size limit from 32MB to 128MB, allowing for more transactions per second and faster confirmation times. Additionally, it seeks to remove unnecessary features such as smart contracts and non-cash transaction types from the protocol. The team behind Bitcoin SV also plans to add new features such as colored coins and oracles that will enable new use cases for the blockchain.

Bitcoin SV is supported by a number of large companies including nChain, CoinGeek, and SBI Group. These companies are working together to develop applications on top of the BSV blockchain that will enable businesses to use it for real-world applications such as payments, data storage, and asset tracking. The BSV network has been designed with scalability in mind and can handle up to 1 million transactions per second without sacrificing decentralization or security.

This makes it an attractive option for businesses looking for an efficient way to process payments or store data securely on a distributed ledger.