Bitcoin SV (BSV) is a cryptocurrency created as a result of a hard fork from Bitcoin Cash, aiming to restore the original Bitcoin protocol with larger block sizes for scalability.
Bitcoin SV (BSV) emerged as a contentious hard fork from Bitcoin Cash (BCH) in November 2018, with the aim of restoring the original Bitcoin protocol and scaling it to become a global peer-to-peer electronic cash system. The project, led by nChain and supported by entrepreneur Craig Wright, focuses on increasing the block size limit to enable more transactions per second and lower fees. Bitcoin SV proponents advocate for a stable protocol and adherence to Satoshi Nakamoto's original vision, promoting a blockchain that can support large-scale applications, micropayments, and enterprise-level solutions. BSV's roadmap includes enhancements to blockchain scaling, security, and interoperability, positioning itself as a platform for developers to build robust applications and services.
BSV, the native cryptocurrency of Bitcoin SV, serves as a medium of exchange within its ecosystem, facilitating fast and low-cost transactions. It also plays a role in incentivizing miners to secure the network through proof-of-work consensus. Despite controversies surrounding its development and leadership, Bitcoin SV continues to attract a dedicated community and industry interest, particularly in sectors requiring high transaction throughput and scalability. As blockchain technology evolves, Bitcoin SV remains a significant player in the cryptocurrency market, contributing to ongoing discussions about the future of digital currencies and decentralized systems.