What is Bitcoin SV?

Bitcoin SV (BSV) is a digital currency that emerged from a hard fork of the Bitcoin Cash (BCH) blockchain in 2018. It aims to fulfill the original vision of the Bitcoin protocol and design as outlined in Satoshi Nakamoto’s white paper and early Bitcoin client software. BSV strives to provide a peer-to-peer electronic system and a distributed data network that can support advanced blockchain applications. It has removed artificial block size limits and re-enabled Script commands and other technical capabilities, allowing the network to process a high volume of transactions while maintaining low transaction fees. Bitcoin SV has the capacity for unbounded on-chain scaling and aligns with the original design of Bitcoin.

How does Bitcoin SV work?

Bitcoin SV operates on the proof-of-work consensus mechanism, where miners solve complex mathematical problems using their computer’s processing power to add new blocks containing transactions to the blockchain. The miner who solves the problem first receives the block reward and transaction compensation, and their block is added to the chain. As more blocks are built on top of their block, the validity of the transactions stored on the chain are ratified by other nodes and become very difficult to alter. BSV's unbounded block size allows it to scale to meet market forces and accommodate the demands of any application and network without resorting to second-layer solutions.

What are the potential use cases for Bitcoin SV?

Bitcoin SV seeks to offer a scalable and usable blockchain platform for efficient transactions and distributed data applications for consumer, enterprise, and government users. Thanks to its scalability, BSV can accommodate the demands of any application and network. It also aims to provide a platform for blockchain application developers, many of whom have migrated from other networks after encountering scaling issues. BSV's functionality is suitable for enterprise and government users, with the blockchain offering an efficient and stable platform for companies and agencies looking to experiment or build with blockchain technology.

What is the history of Bitcoin SV?

Bitcoin SV is a product of blockchain technology company nChain following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018. nChain's Chief Scientist Craig Wright, who has claimed to be Satoshi Nakamoto, has been a supporter of BSV since the split between BCH and BSV. Entrepreneur Calvin Ayre is also a vocal advocate for BSV. After BSV split from BCH, a Switzerland-based non-profit industry association known as Bitcoin Association was formed to support the global growth and adoption of the BSV blockchain and digital currency. The Bitcoin SV Infrastructure Team at nChain continues to advance the node software and other infrastructure tools for the BSV network.