Bitcoin SV

Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier. The BSV network is unique in its capacity for unbounded on-chain scaling while also being more aligned with the original design of Bitcoin than any other blockchain. 

Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier. BSV is secured by the proof-of-work consensus mechanism as described in the Bitcoin white paper. This means that for a block containing new transactions to be added to the blockchain, miners must solve a complex mathematical problem using their computer’s processing power. The miner who solves this problem first earns the block reward and transaction fees, and their block is added to the chain.

Who are the founders of Bitcoin SV (BSV)?

Blockchain technology company nChain developed the BSV node software and has regularly delivered protocol updates that restore the functionality of the original Bitcoin protocol. nChain now provides the Bitcoin SV Infrastructure Team which continues to advance the node software and other infrastruture tools for the BSV network. 

nChain Chief Scientist Craig Wright, who has claimed to be Satoshi Nakamoto, has been a supporter of BSV since the split between BCH and BSV in 2018, following the proposal of controversial protocol changes by several BCH developers.

Entrepreneur Calvin Ayre is also a vocal advocate for BSV and regularly seeks investment opportunities in companies and projects building on the blockchain.

After BSV split from BCH, a Switzerland-based non-profit industry association known as Bitcoin Association was formed that now supports the global growth and adoption of the BSV blockchain and digital currency. Work of the Bitcoin SV Infrastructure Team at nChain is performed at the request and direction of Bitcoin Association.

BSV also offers a scalable and product-ready platform for blockchain application developers, many of whom have migrated from other networks such as Ethereum after encountering scaling issues as their adoption increased. BSV is capable of scaling along with user adoption, which means developers can be assured that transaction fees will remain low and interactions will be processed quickly.

The functionality of BSV is attractive to 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.