$21.14

Bitcoin SV (BSV) was created in 2018 after a hard fork from Bitcoin Cash (BCH), which itself had split from Bitcoin (BTC) a year earlier due to disagreements over block size. BSV aims to restore the original Bitcoin protocol as described in Satoshi Nakamoto's white paper and early writings, focusing on scalability and stability as a peer-to-peer electronic cash system. It removes artificial block size limits and re-enables features like Script commands to support high transaction throughput and low fees for micropayments, as well as advanced applications such as tokens and smart contracts. The network claims to handle tens of thousands of transactions per second with low fees, positioning itself as a scalable blockchain for enterprise and data use cases.

The BSV network was developed by nChain, a blockchain technology company that created the node software and continues to provide protocol updates. Craig Wright, who was nChain's Chief Scientist and claims to be Satoshi Nakamoto, has supported BSV since its split from BCH. Entrepreneur Calvin Ayre is also a prominent advocate and investor in BSV projects. After the fork, the BSV Association, a Switzerland-based non-profit, was established to promote the growth and adoption of the BSV blockchain. These individuals and organizations have been key in guiding the development and promotion of BSV.

BSV distinguishes itself by adhering to the original Bitcoin protocol and focusing on the vision outlined in the Bitcoin white paper. It aims to provide a scalable and usable blockchain for electronic cash and distributed data applications. Unlike other versions, BSV has an unbounded block size, allowing it to scale without second-layer solutions. In 2021, it mined the first gigabyte-level blocks, reaching up to 2 GB, which is 2000 times larger than BTC's 1 MB cap. The BSV Infrastructure Team has demonstrated the network's ability to handle up to 1,000,000 transactions per second, with expectations of even higher capacity in the future, supporting large-scale applications and payments.

The total supply of BSV is capped at 21 million coins, as defined by the original Bitcoin protocol. New coins are introduced through block rewards given to miners for validating transactions, along with transaction fees. These rewards are halved at regular intervals, reducing the rate at which new coins enter circulation and gradually shifting miners' earnings toward transaction fees. This process continues until the maximum supply is reached, ensuring a finite and predictable issuance schedule.

BSV uses a proof-of-work consensus mechanism, as described in the Bitcoin white paper. Miners compete to solve complex mathematical puzzles using computational power to add new blocks to the blockchain. The first miner to solve the puzzle receives a block reward and transaction fees, and their block is added to the chain. As subsequent blocks are added, the transactions in earlier blocks become increasingly secure and difficult to alter, providing strong protection against tampering and ensuring the integrity of the network.

BSV is available for purchase on several major cryptocurrency exchanges, including OKX, KuCoin, and HTX. These platforms allow users to buy, sell, and trade BSV against other cryptocurrencies or fiat currencies, depending on the exchange's offerings. As with any digital asset, it's important to use reputable exchanges and secure storage methods when acquiring BSV.