What is Bitcoin SV (BSV)? A Bitcoin Cash Hard-Fork Focused On Original Bitcoin Principles

Prior to the contentious hard fork, Bitcoin Cash developers and miners became heavily divided over the future of Bitcoin Cash; including the size of its blocks, the introduction of new features and its alignment with principles from the original Bitcoin whitepaper.

On one side there was the Bitcoin SV Client founded on August 16, 2018 and comprised of Coingeek CEO Calvin Ayre and nChain Chief Scientist Craig Wright (self-proclaimed Satoshi Nakamoto, inventor of Bitcoin).

Both of these key Bitcoin Cash proponents lobbied to increase the BCH block size from 32mb to 128mb – a 4x increase in size – but repudiated adding smart contracts and implementing secondary layer scaling solutions. Instead, they proposed restoring the original Satoshi opcodes that Bitcoin ABC had previously updated, to realign the project with Bitcoin’s primary objective to serve as a P2P electronic cash system.

On the other side was the Bitcoin ABC client, consisting of rival mining giant Bitmain led by CEO Jihan Wu, avid crypto proponent Roger Ver and the Bitcoin ABC developers. This faction wanted to move Bitcoin Cash in the completely opposite direction and push forward with Canonical Transaction Ordering (CTOR) as an on-chain scaling solution, implement secondary layer scaling solutions such as the Lightning Network, include smart contract functionality, and perhaps most significantly, leave block sizes as t…

This article appeared first on Cryptovest

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