What is Bitcoin SV (BSV)?

Bitcoin SV (BSV) stands for "Bitcoin Satoshi Vision." It emerged from a hard fork of Bitcoin Cash (BCH) in 2018, which itself was also a hard fork of the original Bitcoin (BTC) blockchain. The primary motivation behind the creation of Bitcoin SV was to adhere more closely to what its creators believe was the original vision of Satoshi Nakamoto, the pseudonymous creator of Bitcoin. This vision includes a commitment to keeping the original Bitcoin protocol stable, massively scaling the network, and preserving Bitcoin as a peer-to-peer electronic cash system.

Who Created Bitcoin SV (BSV) ？

Bitcoin SV (BSV) was created by an Australian computer scientist named Craig Wright, who claims to be Satoshi Nakamoto, the original creator of Bitcoin. Wright and his team aimed to restore the original Bitcoin protocol, as they believe it had a more ambitious vision outlined in the original Bitcoin white paper. However, it's important to note that the claim of Craig Wright being Satoshi Nakamoto is controversial and has been met with skepticism in the cryptocurrency community.

How does Bitcoin SV work?

Bitcoin SV (BSV) operates as a highly advanced blockchain network designed to fulfill the original vision of Bitcoin. It is built on the original Bitcoin protocol, with a focus on scalability, stability, and efficient transaction processing. BSV's protocol allows for an adjustable block size determined by network consensus, aiming to process more transactions at once and generate more transaction fees to incentivize miners. The network is secured by a proof-of-work (PoW) consensus algorithm, and it is capable of supporting nano transactions, smart contracts, and NFTs. BSV's unbounded scaling and restoration of the original Bitcoin script language enable new possibilities in micro-transactions, data transfers, and more. Despite its capabilities, the project has been met with controversy and skepticism within the cryptocurrency community. The larger block sizes of BSV allow for faster transactions but may sacrifice decentralization.

Due to Bitcoin SV’s unlimited block size, BSV can scale to meet the demands of any application and payment network without relying on second-layer solutions. BSV also offers an easy-to-use platform for blockchain application developers, who migrated from other networks after experiencing scaling issues. BSV is capable of supporting applications with a large user base, and blockchain developers can be assured that transaction fees will remain low as transactions are processed at a faster speed. BSV is also being used to power several payment processing platforms, such as Money Button and Centbee, and it is being used to power several other real-world applications.

Tokenomics

How is Bitcoin SV (BSV) used for?

• Payments and micropayments:BSV can be used as a digital currency for online transactions, including micropayments.
• Tokenization:Bitcoin SV can be used to create and manage digital assets, including tokens, on the blockchain.
• Smart contracts: Bitcoin SV supports the creation and execution of smart contracts, which can automate the exchange of assets and other transactions.
• Supply chain management: BSV can be used to track and manage the movement of goods and services across the supply chain.
• Data management:Bitcoin SV can be used to store and manage large amounts of data on the blockchain, providing a secure and decentralized alternative to traditional data storage solutions.

Token Distribution

The token distribution of Bitcoin SV (BSV) involves a maximum supply of 21 million tokens. Fresh coins from this circulation are distributed to BSV miners via block rewards, which they earn in addition to transaction fees for validating blocks. As of now, the circulating supply of BSV is approximately 19.6 million tokens.