Bitcoin SV (BSV)

Last updated 18/06/2021

Official Website: https://bitcoinsv.com/

What is Bitcoin SV (BSV)?

Bitcoin Satoshi’s Vision (BSV) was created from a hardfork of the Bitcoin Cash (BCH) blockchain on November 15, 2018. The split was led by nChain’s Chief Scientist, Craig Wright, with the objective to restore Bitcoin SV to the original vision set out by Satoshi Nakamoto in the 2008 Bitcoin Whitepaper. It emphasises scaling onchain transactions, an increased blocksize and the reactivation of smart contract capabilities. Many developers, miners & businesses migrated from BCH to the BSV ecosystem. There are four fundamental pillars that make up Bitcoin SV’s vision for one global blockchain; Stability, Scalability, Security and Instant Transactions. Since forking, BSV has consistently remained as one of the top Cryptocurrencies.

Team

Bitcoin SV (BSV) was designed by the nChain company led by founder, Craig Wright, and its development team. BSV lead developer Daniel Connolly has held senior positions with various United Nations agencies and has 20 years’ experience in enterprise systems. Steve Shadders is the Technical Director overseeing the project, working to enhance the ecosystem through partnerships liaising with sponsors and industry participants. Both individuals have extensive experience and contributed to the development of Bitcoin (BTC) and other open-source cryptocurrency projects.

Bitcoin SV (BSV) also has five full time C++ developers with almost 100 years combined development experience. Through partnerships, BSV has two additional senior developers working on the project in addition to hundreds of supporters working to enhance all areas.

The Bitcoin Association, a leading global organisation for Bitcoin business is also a major supporter of Bitcoin SV (BSV). President Jimmy Nguyen is one of the world’s leading Bitcoin advocates and a renowned public speaker and media commentator promoting BSV.

Calvin Ayer founder of CoinGeek and Ayre Group is another well-known supporter of Bitcoin SV. At the time of the hardfork, CoinGeek redirected its hash power away from Bitcoin (BTC) & Bitcoin Cash (BCH) to the new Bitcoin SV (BSV) blockchain securing the network and mining the first blocks. Ayer believes Bitcoin SV will absorb all other cryptocurrencies if it can deliver its roadmap and become the dominant blockchain.

Roadmap

Bitcoin SV (BSV) has a detailed roadmap of all completed, underway and planned technical improvements to the network. This roadmap is intended to provide high-level direction to allow the different technical teams to work together for the advancement of the Bitcoin SV network. The technical improvements are broken down into four main categories:

Stability - Enabling businesses to plan years in advance and commit significant resources to build on a stable protocol.
Scaling - Focus on developing onchain scalability for Bitcoin SV.
Security - Ensuring they have enterprise level security and testing frameworks, incorporating the industries best practices.
Safe Instant Transactions (SIT) - Focussing on bringing secure and fast transactions to the network enabling business models with micropayments and nanoservices.

Mining

The mining functionality in Bitcoin SV is very similar to the Bitcoin and Bitcoin Cash networks. Miners use computing power to solve complex mathematical equations, mark transactions as genuine and are responsible for minting new coins into circulation. BSV miners earn the same rewards as those operating on the Bitcoin network, which is currently 6.25 BSV plus mining fees generated from transactions. This reward is due to half every 4 years, the same as Bitcoin.

Information on how to mine BSV can be found by clicking here.

Where to Store Bitcoin SV

There are many different wallets compatible with Bitcoin SV available in Mobile, Desktop, Hardware and Paper wallet formats. Always conduct your due diligence and research into any wallet provider you are looking to use.

Exodus is a commonly used, user-friendly software wallet that can safely store Bitcoin SV; your wallet addresses are prominently displayed within Exodus for ease of access. Check out our Wallet Guides page for further information on setting up and using various wallets.

Where to Buy Bitcoin SV

You can Buy & Sell Bitcoin SV (BSV) here at BC Bitcoin. You can Buy BSV by heading over to the Buy Coins page of our website. BSV is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying BSV has never been easier, simply place your order and provide your wallet address. Once your payment arrives, BSV will be sent directly to your wallet.

If you choose to Sell Bitcoin SV (BSV), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Bitcoin SV Resources

Website: https://bitcoinsv.com/en

Website for Developers: https://bitcoinsv.io/

Blockchain Explorer: https://blockchair.com/bitcoin-sv

Twitter: https://twitter.com/BitcoinSVNode

GitHub: https://github.com/bitcoin-sv

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.