Bitcoin SV (BSV) is a cryptocurrency that emerged as a fork of Bitcoin Cash (BCH) in November 2018, with the aim of restoring the original Bitcoin protocol as envisioned by Satoshi Nakamoto. It is designed to provide a scalable, stable, and efficient blockchain platform for various applications, including enterprise solutions and large-scale projects .
Bitcoin SV operates on a blockchain that employs a Proof of Work (PoW) consensus mechanism similar to Bitcoin. It features an unlimited block size, allowing for high transaction throughput without relying on second-layer solutions. Transactions are processed approximately every 10 minutes. BSV also supports smart contracts written in the Bitcoin Scripting Language, enabling secure and autonomous operations .
Bitcoin SV is designed for a wide array of applications, including payments, gaming, social media, and enterprise solutions. Its scalability and low transaction fees make it suitable for both day-to-day transactions and large-scale enterprise applications. The blockchain also supports smart contracts and non-fungible tokens (NFTs), appealing to various industries such as financial services, gaming, government, and social media .
Bitcoin SV originated from a hard fork of Bitcoin Cash (BCH) in November 2018, led by Craig Wright, who claims to be Satoshi Nakamoto. The fork aimed to restore Bitcoin’s original protocol and significantly enhance its scalability. The Genesis upgrade in February 2020 further reinforced this goal by reintroducing unlimited scaling and the original Bitcoin script language. Bitcoin SV has since achieved milestones such as processing over 50,000 transactions per second and setting records for transaction block sizes and NFTs .