What is Bitcoin Satoshi Vision (BSV) and how Does it Work?

What is Bitcoin Satoshi Vision (BSV) and how Does it Work

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Bitcoin Satoshi Vision (BSV) is a cryptocurrency that is a fork of the Bitcoin Cash blockchain, a fork of the original Bitcoin (BTC) blockchain. It was created in 2018 due to a disagreement within the Bitcoin Cash community about the future direction of the currency.

BSV supporters believe that the original vision of Bitcoin, as laid out by Satoshi Nakamoto in the Bitcoin whitepaper, is to be a decentralized digital currency used for peer-to-peer transactions.

They argue that BTC has yet to follow this vision by focusing on becoming a store of value and a speculative asset rather than a currency for everyday use. BSV has increased the block size limit and lowered transaction fees to make it more suitable for use as a currency.

Bitcoin Satoshi Vision Unique Features

Bitcoin Satoshi Vision (BSV) has several unique features that differentiate it from other cryptocurrencies:

  1. Increased block size limit: BSV has a maximum block size limit of 128 megabytes, much larger than the block size limit of BTC (1 megabyte) and other forks of Bitcoin. This allows for more transactions to be processed per block and lower transaction fees.
  2. Metanet: BSV developers envision a “Metanet” global network of interconnected nodes and data. The Metanet is intended to enable decentralized applications and services built on the BSV blockchain, allowing for new use cases such as micropayments, smart contracts, and more.
  3. No Script Restrictions: BSV has no restrictions on the type of data that can be stored in a transaction, whereas the other Bitcoin forks have a limit on the data (Script) that can be included in a transaction.
  4. Bitcoin Script Language: BSV is the only blockchain that uses the Bitcoin Script Language, a programming language used to create smart contracts and other complex transactions.
  5. Scalability: BSV aims to scale to handle many transactions per second, allowing it to support a high volume of usage in real-world applications.

Just to let you know, only some of the above features are implemented. Many are theoretical and still need to be implemented or proven to work. Therefore, it is considered a highly speculative and risky investment.

What is BSV Coin?

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Bitcoin Satoshi Vision (BSV) is the native cryptocurrency of the Bitcoin Satoshi vision blockchain network. BSV uses a proof-of-work consensus mechanism, which means that new blocks are added to the blockchain through mining. In addition, BSV has a 128MB block size limit and lower transaction fees to make it more suitable for use as a currency and to scale to handle many transactions per second.

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