What is Bitcoin Satoshi Vision (BSV)

Bitcoin SV (BSV) is a cryptocurrency that was born from a hard fork of Bitcoin Cash (BCH) in November 2018. Amid this landscape of fragmentation, Bitcoin Satoshi Vision (BSV) emerges as a cryptocurrency that strives to maintain the original vision of its creator, the mysterious Satoshi Nakamoto. In this article, we will explore what BSV is, its distinctive features, important facts, and how it compares to its predecessor, Bitcoin.

What is Bitcoin Satoshi Vision

Bitcoin SV is a cryptocurrency that shares roots with Bitcoin and Bitcoin Cash, based on decentralized blockchain technology. The abbreviation “SV” comes from “Satoshi Vision,” referring to this cryptocurrency's goal of following Satoshi Nakamoto's original vision for Bitcoin. Its main objective is to provide a scalable, secure and fast platform to enable payments and smart contracts, as well as develop decentralized applications (dApps) and smart contracts. Through its focus on increasing block size, it seeks to offer greater transaction capacity and decrease associated fees. There is controversy surrounding this cryptocurrency, given that one of its major investors, Craigh Wright, claims to be the creator of Bitcoin. Although he has been trying to prove his authorship for quite some time and the only thing he has achieved is the hatred of the entire crypto community. 

BSV Features

1. Largest block size: BSV chose to significantly increase the block size to 128MB, allowing for a higher number of transactions per second than Bitcoin and Bitcoin Cash. This was done to improve scalability and cope with increasing demand on the network.
2. Improved scalability: By increasing the block size, BSV hopes to avoid network congestion and reduce transaction fees. With a larger scale capability, BSV seeks to attract businesses and applications that require a high transaction rate.
3. Smart contracts and dApps: BSV seeks to facilitate the development of smart contracts and decentralized applications, allowing blockchain technology to be more versatile and useful for use cases beyond financial transactions.
4. Restoration of the original Bitcoin protocol: The main motivation behind BSV is to restore the original Bitcoin protocol as conceived by Satoshi Nakamoto in the Bitcoin whitepaper, before the forks and upgrades that occurred over time.

Differences and Similarities with BTC

• block size: The main difference lies in the block size, with BSV allowing larger blocks (128 MB) than Bitcoin's 1 MB. This gives BSV a higher transaction capacity per second, although it also poses storage and synchronization challenges for network nodes.
• Vision and Objectives: While Bitcoin has evolved into a digital store of value and payment system, BSV focuses more on being a platform for applications and smart contracts, maintaining Satoshi Nakamoto's original vision for Bitcoin as peer-to-peer electronic cash.
• Adoption and Recognition: Bitcoin has much broader adoption and is more recognized in the cryptocurrency space and outside of it. BSV, being a younger cryptocurrency, has been working to gain recognition and adoption through partnerships and projects.

• block size: The main difference lies in the block size, with BSV allowing larger blocks (128 MB) than Bitcoin's 1 MB. This gives BSV a higher transaction capacity per second, although it also poses storage and synchronization challenges for network nodes.
• Vision and Objectives: While Bitcoin has evolved into a digital store of value and payment system, BSV focuses more on being a platform for applications and smart contracts, maintaining Satoshi Nakamoto's original vision for Bitcoin as peer-to-peer electronic cash.
• Adoption and Recognition: Bitcoin has much broader adoption and is more recognized in the cryptocurrency space and outside of it. BSV, being a younger cryptocurrency, has been working to gain recognition and adoption through partnerships and projects.