BSV - Bitcoin modification is doing fine

This is Bitcoin Satoshi Vision (BSV or BCHSV) to be "Real Bitcoin". Who says that? The promoter of this cryptocurrency and the holder of its largest package - Craig Wright, who convinces that he is the legendary Satoshi Nakamoto - the mysterious person who showed the world the first cryptocurrency in history.

We continue the Forex Club portal cycle, in which we describe the largest, most known, the most interesting and the most controversial cryptocurrency projects in the world. Today is the time for Bitcoin Satoshi Vision, which is doing well on the stock exchanges despite the huge controversy regarding its creators.

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Rising through division

Bitcoin Satoshi Vision is a cryptocurrency that has split off from the Bitcoin Cash (BCH) chain. We remind you that Bitcoin Cash is, in turn, an asset created after ... separating from Bitcoin. Both events took place during the network update, i.e. hard fork. Bitcoin Satoshi Vision was created on November 15.11.2018, XNUMX, so even for this market, it is a relatively young cryptocurrency.

However, it has aroused considerable controversy from the very beginning. The company that develops BSV is nChain, a subsidiary of Craig Wright who enjoys a lot going on around him. And when it does not, it does everything to quickly become the number one topic in the industry. For example, he argues that he is the famous Satoshi Nakamoto, the creator of Bitcoin hiding under a pseudonym. White Paper BSV is the closest to BTC's "true vision", he emphasizes. Repeating that BSV is the only real Bitcoin, it draws the dislike of many people, but it allows for publicity, thanks to which the new cryptocurrency also gains many followers.

Opponents emphasize, however, that in her case it is difficult to talk about decentralization. Calvin Ayre, who owns the Coingeek cryptocurrency mine and portal with the same name, is also involved in BSV promotion. The vast majority of tokens belong to him, as well as BMG Pool and SVPool. They own over 80 percent everyone on the market!

BSV - differences from BTC and Bitcoin Cash

For obvious reasons, Bitcoin Satoshi Vision has similar source code to Bitcoin, but the differences are large enough to be a separate cryptocurrency with its own network and separate rules. Objectively speaking, BSV has an advantage over Bitcoin Cash in which it is derived in many respects. The biggest difference is the capacity of the transaction block, which currently has 128 MB, and will be increased to 512 MB in the near future. The maximum performance of Bitcoin Cash, which after a long work of 32 MB, falls pale.

Security more important than scalability

However, not all new solutions are introduced to the BSV. This happened, for example, with the canonical ordering of transactions that Bitcoin Cash introduced. BSV promoters decided not to take such a step. Although the canonical ordering of transactions allows for a significant increase in scalability and acceleration of transactions (especially when many of them are performed at the same time), but - according to BSV promoters - it can reduce the level of security. Therefore, it was decided to stick to the older but proven solution - the topological model of ordering transactions.

BSV also does not want to develop micropayments through the Lightning Network, focusing on increasing scalability within the main block chain.

Bitcoin SV (BSV) Quotes

As at March 24.03.2020, 3,1, Bitcoin SV is the world's sixth cryptocurrency in terms of capitalization, which amounts to over USD 68 billion. Cryptocurrency can now be traded on 14.01.2020 stock exchanges around the world. The peak of BSV took place on January 439,73, 24.03.2020, when it cost USD 173,57. For today, i.e. XNUMX/XNUMX/XNUMX the price is much lower and amounts to XNUMX USD.