What is Bitcoin SV and is it related to Bitcoin?
Bitcoin SV is a cryptocurrency that shares its network and creates its own blockchain (Hard Fork) from Bitcoin Cash in the year 2018. The SV in Bitcoin SV is short for “Satoshi’s Vision” which refers to the vision of the founder of Bitcoin, Satoshi Nakamoto.
The reason why Bitcoin SV got separated from Bitcoin Cash is that Mr. Craig Steven Wright, an Australian computer scientist and businessman who claims himself as “Satoshi Nakamoto”, and Mr. Calvin Edward Eyre decided to increase the size of the blockchain which has the same properties as the original Bitcoin, but had an argument midway, therefore the separation between Bitcoin SV and Bitcoin Cash.
Bitcoin SV increased the size of the block, which starts from 128 MB all the way to 2 GB, while Bitcoin Cash has the size of just 32 MB. Anyhow, despite Bitcoin SV having larger blocks than Bitcoin, which increases the speed of transactions, Bitcoin SV has very little adoption when compared to Bitcoin.
Bitcoin SV also does the halving process, just like Bitcoin. This is when the reward from mining (Block Reward) is reduced to just half of what it was, which usually happens every 210,000 blocks, or every 4 years.
Prominent Points of Bitcoin SV
1. Speed of Transactions
Bitcoin SV has increased the size of each block to 128 MB, which increases the speed of each transaction being made.
2. Increasing the Block Size
Bitcoin SV is able to change the size of the block through the liking of the network, where the largest size it may achieve is at 2 GB.