15 November 2019 marks one year since Bitcoin SV (BSV) emerged in the world’s first Bitcoin hash war, to declare independence for original Bitcoin. After years of BTC and BCH protocol developers deviating from the design of Bitcoin’s creator Satoshi Nakamoto and artificially restricting Bitcoin’s capabilities, BSV is restoring the “Satoshi Vision.” While it uses a new ticker symbol, BSV represents the original Bitcoin protocol and finally enables the blockchain to massively scale – just as Satoshi always intended.
Jimmy Nguyen, President of Bitcoin Association, the global industry organization which advances Bitcoin SV, remarks: “We declare November 15 as Bitcoin Independence Day, to commemorate BSV’s rise to free and protect original Bitcoin. We’ve seen tremendous scaling success and application development on BSV in just one year, confirming that Bitcoin’s original design always worked.”
In just one year, BSV has been solving the biggest problem facing Bitcoin to date: scaling. BSV currently handles up to 20,000,000 transactions per day and is progressing to be able to handle thousands of transactions per second. This level of capacity can compete with VISA payment network capacity, and supports enterprise usage for tokens, smart contracts, big data and other applications. The BSV network now rivals BTC for more daily transactions (Coin.Dance) on chain as well as bigger average block sizes. BSV is the only blockchain project massively scaling to support high transaction volume, keep fees super low to enable micropayments and microtranscations, and provide bigger data capacity for enterprise uses.
And in just one year, application development rapidly ignited on BSV. Examples of real business projects already being built on BSV include:
• BUSKON, a new Korean-based music streaming business from ONEStore (2nd largest mobile app store in South Korea), that found BSV is the only blockchain that meets its requirements for scalability, reliability, security, and regulatory compliance
• DRIVE, a technology company in Canada focused on blockchain solutions for finance and supply chain, is building a cross-border payments network on BSV for financial institutions
• American online game company Kronoverse is using BSV’s greater capacity to record game battle data to the blockchain, starting with its CryptoFights game, and also to create a new eSports monetization platform
• BitBoss is an American gambling technology company with a new product that connects casino back-end systems to player mobile wallets, enabling more efficient betting using BSV or BSV tokens
• Tokenized provides a BSV protocol for issuing over 50 token types for real world assets. The Amleh company is using that system to issue digital tokens of audited physical gold in micro-increments which allow anyone to own and trade gold
• UNISOT in Norway is a start-up creating a supply chain management solution on the BSV blockchain
• Companies can conduct better up/downtime testing of their websites with UpTimeSV, which uses BSV to enables individual users to contribute to testing with your mobile phones in a global crowdsourced system.
• Video streaming, where you get paid for your content, with Streamanity…
• And there is now even a high-level smart contract language for BSV – sCrypt.
Unlike other cryptocurrency camps, BSV is regulation-friendly. It recognizes the blockchain’s nature as a transparent, auditable ledger where transactions can be traced and criminal activity can be stopped. The BSV ecosystem also supports compliance with KYC, AML, securities and other real-world legal requirements – which is essential to win business and government confidence for global adoption.
BSV is the only coin with a blockchain that significantly scales (now), has robust utility (now), and is committed to a set-in-stone protocol for developers to reliably build on (almost complete return to original Bitcoin protocol by February 2020). BSV is also the only coin that adheres to Bitcoin’s original design from Satoshi Nakamoto’s white paper and early writings. In short, BSV is Bitcoin.
WATCH to learn more about BSV’s 1st year here.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.