A fresh face eager to impress Bitcoin SV or Bitcoin Satoshi Vision is the latest cryptocurrency to enter the markets and has also had a tremendous impact on the process. Yesterday, Bitcoin SV entered the top 10 crypto-currencies by market capitalization after experiencing a sharp increase in its market capitalization. Today, Bitcoin SV remains at the top of the rankings, proving that this cryptocurrency is more than a fad, it is now a serious contender for Bitcoin Cash.
What is Bitcoin Satoshi Vision?
Bitcoin SV is the result of the recent breakthrough of Bitcoin Cash that resulted in a forced upgrade of the Bitcoin Cash blockchain. As a result of this fork, part of the chain had to take a new direction, this new direction is now known as Bitcoin SV and has been going on for months.
What is the vision of Satoshi?
For those who do not know it, Satoshi Vision refers to the original idea of creating Bitcoin. It is there that it gets complicated. The alleged creator of Bitcoin and cryptocurrency is a person (or group of people) called Satoshi Nakamoto. Now, nobody knows who Satoshi Nakamoto is. However, thanks to the documentation surrounding the creation of Bitcoin, we know that Satoshi had a vision for a global cryptocurrency that was decentralized and made control to the people. Satoshi had an almost Marxist view and saw that power could be restored to the "people" if he seized the means of producing money. This eventually led to the development of Bitcoin as we know it today (it's a bit more complicated than that of course, but I hope you have some basic idea now).
During the Bitcoin lifecycle, we witnessed the creation of Bitcoin Cash as a result of a hard bitcoin fork, which in turn led to the creation of Bitcoin SV, a version of Bitcoin that claims to want rediscover the original vision of Satoshi and become the most popular and most widely adopted global decentralized Crypto-currency in the world, through a hard bitcoin cash fork. Note that these difficult forks are quite common, so this is not an incredible event.
According to Bitcoin SV website:
"Bitcoin SV is a complete node implementation for Bitcoin Cash (BCH) and will maintain the Bitcoin vision defined in the Satoshi Nakamoto white paper in 2008: Bitcoin: a cash electronic payment system reflecting its mission. from Bitcoin, the name of the project represents the "Vision Satoshi" or SV. Created at the request of CoinGeek, a leading mining company of the BCH Group, and other mining companies, Bitcoin SV aims to provide miners with a clear choice of BCH implementation and enable businesses to build applications and sites. Web reliable.
The true vision of Bitcoin SV is now focused on four key areas that aim to make Bitcoin SV higher than Bitcoin Cash and Bitcoin. First of all, Bitcoin SV wants to take care of stability:
"The vision of Bitcoin SV is to provide assured stability with only a limited and well-known set of changes planned to restore the Bitcoin protocol to its original design and enable innovation to occur on a protocol. basic stable. Part of this is to restore the Satoshi op_codes to allow companies and development teams around the world to create the many possible BCH blockchain solutions, such as smart contracts, tokenization, atomic trading, and so on.
Then, the scalability:
"For Bitcoin Cash to truly act as a global monetary platform, it is necessary to demonstrate that the platform is ready to handle the volume of transactions to the required size. The Bitcoin SV roadmap is primarily focused on increasing capacity, through default or smaller configurable block sizes and performance improvements. "
"Bitcoin Cash will be a world currency. To enable such a future, we must be ready to provide a level of security that matches that of a global monetary system. To do this, the Bitcoin SV project focused on the rigorous quality assurance of mining node software. "
"Instant transactions are essential to unlock the virtual merchant market for Bitcoin Cash payments. Security enhancements can be made to better secure instant transactions for the future, and the Bitcoin SV Roadmap views secure instant transactions as a top priority. "
L & # 39; s future
As you can see, the SV Bitcoin team's main goal is what it wants to achieve in the future. The team will be bold in its progress and will really want to bring the culture of "Bitcoin" closer to the goal set by Satoshi Nakamoto, whatever the objective. The roadmap for Bitcoin SV continues to highlight the four key areas that the team will explore and present a clear plan for the development of Bitcoin SV until the second quarter of 2019. It's a short roadmap, granted, but we hope this will expand and more details will be added when the SV Bitcoin team settles in and plans for the future.
For the moment, we expect this cryptocurrency to remain a bit unstable and will therefore probably not be among the top 10 crypto-currencies for the long term. That said, you have to admit that what we saw of Bitcoin SV this week is quite impressive.