What Is Bitcoin SV? Everything You Need To Know About BSV

Bitcoin SV, otherwise known as Bitcoin Satoshi Vision and BSV, has received mixed attention. But what is Bitcoin SV? And how is Bitcoin SV different to Bitcoin?

Summary

A variation of Bitcoin, Bitcoin SV claims to offers fast, affordable, decentralized transactions, but with the capacity to do so on a much larger scale.

So far, however, it hasn't tested its ability to scale due to lack of usage. 

What Is Bitcoin SV?

Claiming to be fashioned out of Satoshi Nakamoto's initial vision for Bitcoin, Bitcoin SV is a somewhat new Cryptocurrency that aims to "bring back" the core values of the original Bitcoin, with the most notable being that it should be used as a means of currency.

Bitcoin SV was born as a result of a feud over the future of Bitcoin Cash (BCH), another branch of Bitcoin. The conflict was over how large the Cryptocurrency's block size, which determines how many transactions can be processed per second, should be.

Related: Where Can You Spend Bitcoin?

The dispute ultimately led to the team behind Bitcoin Cash splitting into two directions, and thus Bitcoin ABC (Bitcoin Adjustable Blocksize Cap) and Bitcoin SV were created, with the latter containing blocks that are four times the size of that of the former.

Bitcoin vs. Bitcoin SV: How Is Bitcoin SV Different To Bitcoin?

The main technical difference between Bitcoin SV and Bitcoin (BTC) is block size. Bitcoin has the original 1MB and Bitcoin SV has a 128MB. So on paper, Bitcoin SV has what it takes to rival Bitcoin, but in the real world, where computation, market cap, usage, and adoption come into play, they aren't really competitors at all.

The end result? While Bitcoin SV has some technical differences that could theoretically be beneficial, those technical differences also pose potential issues like adoption amongst miners. Its overall lack of adoption and challenges in the market -- like being delisted from exchanges on the back of outbursts from its contentious founder, things aren't looking great for Bitcoin SV.

Want to learn more about Cryptocurrency? Check out our Beginner's Guide.