Bitcoin SV (BSV)
Bitcoin SV (BSV) is a blockchain protocol focused on payments, designed to embody the original vision of Bitcoin's creator, Satoshi Nakamoto. The network emphasizes scalability, stability, security, and instant transactions. It was introduced in November 2018 following a hard fork from Bitcoin Cash. Craig Wright leads the project, with backing from Calvin Ayre and development by nChain. BSV aims to support enterprise-level blockchain applications by removing block size limits and re-enabling script commands, allowing for tens of thousands of transactions per second at low fees.
The Bitcoin SV network supports advanced functions such as tokens, smart contracts, and data use cases, aligning closely with the original Bitcoin design. In June 2019, a partnership with FRNT Financial Inc. enabled fiat-settled BSV derivatives for investors. Applications such as Streamanity, Money Button, Run Platform, and Domineum leverage BSV's capabilities. In 2020, Bitcoin SV launched a Developer Zone in collaboration with the Chinese Software Developer Network.
| Ticker | BSV |
| Category | Smart Contract Platform |
| Website | https://bitcoinsv.com/ |
| @BSVBlockchain |
Bitcoin SV’s scalability
Factors influencing scalability
Scalability in the BSV network relies on block size and transaction size. In 2020, BSV handled blocks as large as 369 MB with 1.3 million transactions. By May 2022, the largest block mined was 3.8 GB, with an average block size of 100 MB. Transactions can contain up to 4.2 GB of data, supported by the Script language for contracts.
Scalability tests
Scalability tests on the Bitcoin SV Scaling Test Network (STN) demonstrated a peak of over 2400 transactions per second (TPS) in July 2020. In January 2021, BSV achieved 9232.51 TPS, and by May 2022, it reached 19,308 TPS. The Teranode project aims to enhance scaling capabilities to 50,000-100,000 TPS. LAYER2 Technologies tested the network's ability to handle data for national elections, resulting in the B-Vote application.
Simplified Payment Verification (SPV) channels
SPV channels facilitate encrypted messaging between BSV network participants. In June 2021, the Bitcoin Association released SPV Channels CE v1.1.0, introducing mobile libraries and push notifications for Android and iOS, along with SDKs available on GitHub.
Twetch and the Metanet
The Metanet protocol structures an on-chain internet on the BSV blockchain, allowing data ownership and control. Twetch, a decentralized social media platform, enables users to earn from their content without selling data, supporting micropayments and content quality-based earnings.
Digital exchanges supporting Bitcoin SV
In September 2020, Bitcoin SV introduced fraud-free onramps at various exchanges through Simplex, allowing BSV acquisition via multiple payment methods. Platforms include BitAsset, BitBay, Celsius, ChangeNOW, and others. In April 2021, Beaxy Exchange listed BSV, recognizing its utility and ecosystem of 300 companies building on the blockchain.