Bitcoin SV (BSV) emerged from a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which itself originated from a fork of the original Bitcoin (BTC) network. The project aims to restore what its proponents believe is Satoshi Nakamoto’s initial vision for Bitcoin—a scalable, stable peer-to-peer electronic cash system and a robust distributed data network capable of supporting enterprise-level applications.
Unlike many other blockchain projects, BSV focuses on removing artificial constraints, such as block size limits, and reinstating previously disabled Script commands and other technical features. This approach allows the network to process tens of thousands of transactions per second, maintain minimal transaction fees, and support advanced functionalities like tokenization, smart contracts, and diverse data use cases.
Founders and Development Background
The development of Bitcoin SV is closely tied to nChain, a blockchain technology company that created the original BSV node software. nChain continues to provide protocol updates aimed at restoring the original Bitcoin protocol's functionality. Today, the Bitcoin SV Infrastructure Team, operating under nChain, focuses on advancing the network’s infrastructure.
Two notable figures are associated with BSV: Craig Wright, nChain’s Chief Scientist, who has publicly claimed to be Satoshi Nakamoto, and Calvin Ayre, an entrepreneur and vocal supporter of the BSV ecosystem. Following the split from BCH, the Bitcoin Association—a Swiss non-profit—was established to promote the adoption and development of BSV worldwide.
What Makes Bitcoin SV Unique?
Bitcoin SV differentiates itself through its strict adherence to the original Bitcoin protocol and its focus on scalability and utility. While BTC is often viewed primarily as a store of value, BSV aims to be a functional platform for everyday payments and data applications.
A key innovation is its unbounded block size, which enables the network to scale organically based on demand. In 2021, BSV successfully mined blocks exceeding 2 GB in size—2,000 times larger than BTC’s 1 MB limit. This capacity allows BSV to process up to 100,000 transactions per second, rivaling traditional payment systems like VISA at a fraction of the cost.
This scalability makes BSV attractive to developers, especially those migrating from networks like Ethereum due to high fees and congestion. Enterprises and governments also find value in BSV’s stability and efficiency for building scalable blockchain solutions.
BSV Coin Supply and Distribution
BSV follows the original Bitcoin monetary policy, with a maximum supply capped at 21 million coins. New coins are introduced through block rewards, which are granted to miners for validating transactions and securing the network. These rewards undergo periodic halving events, gradually reducing miner subsidies and increasing reliance on transaction fees.
Network Security and Consensus
Bitcoin SV uses the proof-of-work (PoW) consensus mechanism, as outlined in the Bitcoin whitepaper. Miners compete to solve complex mathematical problems to add new blocks to the blockchain. Successful miners receive block rewards and transaction fees. As more blocks are added, transactions become increasingly secure and immutable.
Frequently Asked Questions
What is Bitcoin SV?
Bitcoin SV is a blockchain and cryptocurrency project that aims to fulfill the original vision of Bitcoin as described in Satoshi Nakamoto’s whitepaper. It focuses on scalability, low fees, and support for advanced data and payment applications.
How does BSV achieve high transaction throughput?
By removing artificial block size limits and optimizing protocol functionality, BSV can process tens of thousands of transactions per second. This enables it to support high-volume use cases at very low cost.
Who supports the development of Bitcoin SV?
The Bitcoin Association, a non-profit organization, supports global adoption, while the Bitcoin SV Infrastructure Team (under nChain) handles technical development. Prominent supporters include Craig Wright and Calvin Ayre.
What is the total supply of BSV?
Like Bitcoin, BSV has a fixed supply of 21 million coins. New coins are issued through mining and are subject to periodic halving.
How is the BSV network secured?
BSV uses proof-of-work consensus, where miners validate transactions and add new blocks to the blockchain. This process ensures security and decentralization.
Why do developers choose BSV?
Many developers prefer BSV for its scalability, low transaction fees, and stability—making it suitable for enterprise applications and high-frequency use cases. 👉 Explore scalable blockchain solutions
Bitcoin SV stands out for its commitment to the original Bitcoin vision and its practical approach to scaling. With its strong emphasis on utility, security, and innovation, BSV continues to attract developers, enterprises, and users looking for a efficient and scalable blockchain platform.