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The hash war between Bitcoin SV and Bitcoin ABC is far from over. Bitcoin SV (BSV) continues to develop the blockchain according to what cryptocurrency was supposed to be – a peer-to-peer electronic cash register – to ensure that crypto fills its reason for being. To this end, preparations are underway to allow the network to process more transactions than any other cryptocurrency.
Dr. Craig Wright said in a Medium article two days ago that BSV will be able to process up to 1 terabyte (TB) of transactions within three years. This volume is imperative to allow a blockchain to handle the number of transactions that can compete with other types of payment, including PayPal and credit card processors.
Currently, BSV blocks are limited to 64 megabytes (MB). This number will increase to 512 MB in six months and will reach 2 GB by one year.
Wright also claims that miners will be able to earn substantial income within six months through sizing efforts. He explained: "As an SV, miners will earn more than $ 8,000 per block based on their use. That equates to $ 640 a bitcoin on trade, and we did not take into account the bitcoin game price, but what the miners will gain as a service. "
The miners should now move behind BSV to take advantage of the extraction capabilities. As Wright points out: "With the Teranode project, nChain will adapt Bitcoin SV to over 1.0TB over the next 3 years (with the goal of 2 years) and growing in size from there. At this level, miners will earn more than $ 600,000 per terabyte block, every 10 minutes on average. "
The crypto pioneer and chief scientist of nChain added that in two or three years, BSV would handle 6.5 million transactions per second. This is "Visa, MasterCard, SWIFT banking and ALL global currencies (not just cryptography) in less than 15% of a block."
BCHSV, the cryptocurrency created to support the hard fork of Bitcoin Cash, has seen substantial gains over the past week. After reaching a low of about 38 dollars on November 22, it is now trading at $ 103.79, according to CoinMarketCap, at the time of writing these lines. On the other hand, BCHABC, which represented the other half of the hash war, continues to fall. According to the latest data from CoinMarketCap, its value has dropped more than 20% and continues to fall.
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