Bitcoin SV (BSV)

Bitcoin SV coin

What is Bitcoin SV (BSV)?

BSV is a cryptocurrency created as a result of Bitcoin Cash hard fork (actually, it was introduced a little bit prior to the fork – in August 2018). On November 15th, the blockchain has officially split into two competing coins – Bitcoin ABC (Adjustable Blocksize Cap) and Bitcoin SV (Satoshi Vision). The latter cryptocurrency aims to bring back the values and technology of the original Bitcoin – decentralisation, using crypto solemnly as a payment and trade method and elevating the capacity of the network.

The BSV chain leader is Craig Wright, who claims to be Satoshi Nakamoto. Wright is one of the major media figures involved in the famous Bitcoin Cash hash war along with Roger Ver. The Bitcoin Cash civil war not only affected the said currency but also led to major market changes. During the protocol upgrade, both BCHABC and BSV mining powers were fully mobilised and shifted from BTC to BCH, which led to Bitcoin price decline and general market struggle. Well, no matter what the circumstances are, the forked BSV currency is now supported by major cryptocurrency exchanges.

What are the advantages of Bitcoin SV?

  • Scale. The block size of BSV is 128MB – the original BCH was only 32MB. Blocksize increase helps to majorly scale the network and allow more transactions to be performed.

  • Transaction costs. One of the goals of BSV developers was minimizing transaction costs – affordable and fast transactions at large scale are key to the success of the new cryptocurrency.

  • Network development. Implementing Satoshi's view to the existing blockchain required lots of work in development. Hence, Bitcoin SV is a chain that underwent more changes than its competitor, Bitcoin ABC.

How to store Bitcoin SV?

Bitcoin SV wallets are already available – the official chain website has a list of trustworthy services. Besides, the users can claim their post-fork Bitcoin SV on hardware wallets like Ledger.

How to buy Bitcoin SV?

Bitcoin SV exchange is possible on multiple services, at different rates. BSV price has not yet stabilised, so sometimes it can be challenging for the buyers to find the best deal out there on the market.

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Read more about BSV price prediction 2020, 2021, 2022, 2025.

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