The Bitcoin SV People, Wallets, Miners, and Other Resources You Need to Know
Nearly a year ago in November 2018, Bitcoin SV (BSV) emerged from a chain split of Bitcoin Cash. This occurred after the Bitcoin ABC development team (which has the leading software implementation of the BCH protocol) implemented new consensus rules that Bitcoin SV supporters believed deviated from the original Bitcoin protocol. The dispute triggered the world’s first Bitcoin hash war, which was resolved when Bitcoin SV continued as its own persistent chain.
The ‘SV’ in ‘Bitcoin SV’ stands for ‘Satoshi Vision’, which represents chain supporters’ goal of returning to what they see as the original Bitcoin protocol which the pseudonymous Satoshi Nakamoto outlined in the Bitcoin white paper and other early writings. In so doing, they intend to create a massively scaled blockchain to serve two functions:
- A peer-to-peer electronic cash system with fast transactions and low fees, even for micropayments that are typically too small to be feasible with current payment systems.
- A global data ledger that supports a broader set of business use-cases beyond financial transactions, ranging from tokenized assets, to an auditable ledger for supply-chain management, to a new commercial Internet called “the Metanet” where users make and receive micropayments for online engagement.
Initially, the Bitcoin SV community moved towards these goals by increasing the blockchain’s block-size limit from Bitcoin Cash’s 32 MB limit to 128 MB and re-enabling opcodes from Satoshi’s first implementation of Bitcoin that had subsequently been removed. (Opcodes are the set of commands that provide Bitcoin with a limited scripting capability.)
In July 2019, Bitcoin SV protocol develops scaled up the network further by increasing the blockchain’s maximum block-size limit to 2 GB. They ultimately aim to reorient Bitcoin SV block size around miners’ economic incentives; the first step towards this has been developers explicitly encouraging miners to set their own desired block-size limits within the present 2 GB limit, and the second step will be completely removing the default block-size limit in February 2020, relying entirely on miners to set the limit for each block.
Beyond these technical changes, Bitcoin SV also seeks to build a regulation-friendly ecosystem. BSV ecosystem participants believe that responsible regulation and proactive laws are necessary to protect consumers, win institutional investment, earn enterprise confidence, and grow the blockchain sector. In this spirit, BSV leaders provide guidance to government officials, comment on draft legislation, and seek to educate legislators and government agencies about how to responsibly regulate cryptocurrency businesses while still encouraging innovation.
For Bitcoin SV to achieve its goals, though, it’s not enough to just get the technology and regulatory compliance right — those are simply the first steps. Cryptocurrencies are built around communities of people and compound growth through network effects. The success of Bitcoin SV in realizing its ambitious vision is dependent on the strength of the community around the project.
We’ve rounded up all the current Bitcoin SV resources out there. Whether you’re trying to learn about the cryptocurrency for the first time or you’re trying to find the right places to expand your growing BSV network, this guide has something for you.
👩💻 People: Follow the people who are building Bitcoin SV and aiming to create an enterprise-first blockchain.🗞 News: We’ve included a list of the top Bitcoin SV focused news websites, along with general cryptocurrency news outlets that cover Bitcoin SV.⛏ Miners: Those interested in mining Bitcoin SV may want to consider joining a mining pool. We’ve included a list of public mining pools which accept mining customers; other mining groups are listed as private.👜 Wallets: From desktop wallets to hardware wallets, there are a number of different places where you can store your BSV — we’ve included the best below.📱 Applications & Services: The BSV ecosystem is rapidly growing. We’ve provided a resource to help you keep track of all the latest BSV applications and services.🖥️ Developer Resources: If you’re a developer looking to build on the Bitcoin SV blockchain, these resources will help you to create.⛪ Communities: Whether you’re a business interested in building on top of Bitcoin SV or a user seeking to participate in the ecosystem, these resources will help you to seek out other like-minded entities.
Published at Thu, 22 Aug 2019 13:37:30 +0000
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By maltman23 on 2014-09-11 08:29:48
