Bitcoin SV is a peer-to-peer cryptocurrency that can be sent from one place to another without the need for an intermediary. The special thing is that this currency still retains the original value of Bitcoin, unlike Bitcoin Cash (BCH).
If you are interested in learning more about Bitcoin SV, why not take some time to follow the following content from AZCoin?
What is Bitcoin SV?
Bitcoin SV or Bitcoin Satoshi Vision has the symbol BSV, which is a peer-to-peer electronic currency that can be transferred from one place to another without the need for an intermediary. The notable thing about Bitcoin SV is that this currency still retains the original value of Bitcoin unlike Bitcoin Cash (BCH), according to the project representative.
Let’s briefly talk about the history of the formation of Bitcoin SV. According to research, this currency was born on November 15, 2018, after Bitcoin Cash’s (BCH) blockchain split. From here two new electronic currencies, our Bitcoin Cash ABC and Bitcoin Cash SV.
From what we have learned, it can be said that Bitcoin SV has great ambition as it aims to upgrade the original values and technology of the original Bitcoin.
What makes Bitcoin SV stand out?
The points that make Bitcoin SV stand out that we can mention here are:
- Upgrade block sizes from 32MB to 128MB for the ability to store more data in one block.
- Transaction processing speed is faster and more efficient when more data information is contained in one block.
- Lower transaction execution costs.
- Transaction security has been further improved.
Besides, if you have time, we would like to suggest you check out other interesting content such as BEAM Coin, Flare Coin, Wormhole,…
What’s the difference between Bitcoin SV and Bitcoin Cash?
If you wonder how many differences there are between Bitcoin SV and Bitcoin Cash? Below is a quick comparison table for you to follow more easily:
| Comparison criteria | Bitcoin SV | Bitcoin Cash |
| Launch Date | November 15, 2018 | August 1, 2017 |
| Supported by | Craig Wright & Calvin Ayre | Roger Ver & Jihan Wu |
| Native Token | BSV | BCH |
| Max Supply | 21 million | 21 million |
| Consensus | Proof of Work | Proof of Work |
| Algorithm | SHA-256 | SHA-256 |
| Block Size | 128 MB | 32 MB |
| Block times | 10 minute | 10 minute |
| Avg. TPS | 250 | 61 |
From the comparison table, you can find the block size of Bitcoin SV is much larger than that of Bitcoin Cash, which we also mentioned before. That is also why Bitcoin SV has a much faster transaction processing speed.
Overview of BSV
Specifications
- Token name: Bitcoin SV
- Ticker: BSV
- Blockchain: Bitcoin Satoshi Vision
- Type Token: Coin, Mineable
- Consensus: Proof of Work (PoW)
- Algorithm: SHA-256
- Block Time: 10 minute
- Transaction Time: 225 TPS
- Block Reward: 12.5 BSV per block
- Total Supply: 21.000.000 BSV
BSV Use Case
BSV is currently used for the following purposes:
- Transaction fees: BSV is used to pay fees for conducting transactions within the network, the fees need to be relatively low.
- Rewards: BSV is used as a reward for miners every time they successfully mine a new block to encourage them to maintain the network and ensure transaction security.
- Payment: BSV can be used to pay for goods or services from stores and partners that accept BSV.
How to own BSV?
If you want to own BSV, there are currently two ways for you to own this cryptocurrency:
- Mining: BSV uses the SHA-256 algorithm, so you can mine with mining machines such as CPU, GPU, or ASIC.
- Trading: BSV can be purchased from exchanges, the best crypto exchanges we can recommend for you are OKEx, Huobi, BiONE,…
Where should BSV be stored?
If you need to store BSV in the safest way, we can suggest some names such as Metamask, Sollet, Binance Smart Chain, Ethereum, Coinbase Trust Wallet,…
Conclusion
Finally, we have come to the end of the most comprehensive and easy-to-understand content about Bitcoin SV along with a lot of other useful information. If you have any other questions, don’t hesitate to contact AZCoin.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
