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What is Bitcoin SV all about
Bitcoin Satoshi's Vision, also known as Bitcoin SV is a blockchain that is a result of a 2018 hard fork from the Bitcoin Cash chain. The fork happened because of a disagreement amongst developers. These disagreements were about introducing new features to the blockchain, like smart contracts. BSV's blockchain is being developed by nChain. NChain's Chief Scientist - Craig Wright - even claimed to be part of the original Bitcoin developer group called Satoshi Nakamoto.
Bitcoin SV website states that the project is "Exactly as envisioned in Satoshi Nakamoto’s Bitcoin White Paper". As such, the BSV network is secured by a Proof-of-Work consensus algorithm. This means that miners compete to solve complex mathematical problems. Whenever a miner solves such a puzzle, a new block gets added to the blockchain and the miner receives a reward. Each new block is cryptographically tied to the previous one, which makes it practically impossible to alter stored data.
The BSV network offers interesting solutions to existing blockchain problems, like scalability. BSV is already able to handle over 50000 transactions per second (tps) on the testnet, and 10000+ tps on its mainnet. The block size of BSV is also significantly larger. As of writing, the official website for Bitcoin SV lists the current block size at 4GB. In comparison, Bitcoin's original block size was only 1MB. Through the process of massive scaling, BSV wants to increase transaction volumes.
The Bitcoin SV network also boasts high energy efficiency. Thanks to BSV's transaction scaling ability it has the potential to become the world's greenest blockchain. On top of that, the more people use the network, the more energy efficient it becomes.
BSV token is the representation of what Satoshi Nakamoto envisioned in their whitepaper. A global peer-to-peer system of electronic payments. This means that BSV is basically a medium of exchange. The use of BSV removes the need for an intermediary like the banking system. Because of it, BSVs' transaction fees are lower than those of credit card payments.
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BSV Questions & Answers
What is the price of Bitcoin SV today?
Today, the price of Bitcoin SV is at 48.75 Euro.
What was the highest price of Bitcoin SV?
Bitcoin SV was the most expensive on 2021-04-16, when it was at 408.75 EUR.
What price will Bitcoin SV reach next month?
According to our prediction, we estimate Bitcoin SV's cost is likely going to reach between €0 and €62.56 in 1 month.
What will the Bitcoin SV price be half year from now?
Predicting the future with any degree of accuracy is difficult, but on the basis of our short term prediction we estimate the value of Bitcoin SV will reach between €0 and €62.56 in 6 months.
Is Bitcoin SV expected to increase in value in three months?
Using our prediction we suspect that the value of Bitcoin SV will reach between €0 and €62.56 3 months from now.
Is Bitcoin SV popular among social media users?
0 users engaged in discussing Bitcoin SV online on Reddit in the last 2 days. Bitcoin SV's Twitter handle is followed by 0 users.
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