CoinSurvey: BSV ecosystem optimistic—Asia is thriving, Europe needs work

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A recent survey by CoinSurvey showed that, despite the digital currency winter, the BSV ecosystem is extremely optimistic. The survey revealed several key insights, including what type of ecosystem participant is most likely to be optimistic and satisfied, what regions are thriving versus which are struggling, and more.

So, what did the survey reveal? Let’s dig into the data.

🧵 THREAD: Recently CoinSurvey conducted a survey and invited the BSV ecosystem to give their opinion.

Here are the key findings 👇👇👇

Full report available here: https://t.co/YuaofvqkYm

— CoinSurvey (@coinsurvey_io) December 5, 2022

BSV is a welcoming community, and connecting is easy

One of the biggest insights from the results is that the BSV community is perceived as highly welcoming. 80% of the 271 respondents agreed or strongly agreed with that.

How were the results distributed? Regular users and influencers felt strongest about the warm welcome they received. Entrepreneurs and developers still overwhelmingly said it was a welcoming community, but less so than the former categories.

A related question asked if participants thought connecting and engaging with people in the BSV ecosystem was easy. More than 80% of respondents agreed. Respondents in Europe find it slightly more difficult to connect and engage, suggesting the BSV community is more fragmented there.

What about cooperation within the ecosystem? 69% said it was excellent or above average. Developers responded much more favorably than entrepreneurs to this question, showing that there’s still room for improvement in some areas. Once again, European developers were less likely to respond favorably.

Optimism about BSV use, apps, and adoption

A series of questions in the survey attempted to gauge how ecosystem participants felt about using BSV, its various applications, and what was most likely to lead to mass adoption.

65% of respondents said it was easy or very easy to use BSV. Users found it easiest, and while developers and entrepreneurs both said it was easy to use in the majority, they responded less favorably than users. Miners responded least favorably to this question, with only 38% saying it was easy or very easy to use BSV.

Another related statement was, “The BSV ecosystem provides me with opportunities.” 89% of developers agreed with this statement, and 73% of respondents across all categories, including traders, speculators, entrepreneurs, and influencers, felt the same way.

Answering what the most important area of focus should be to increase BSV adoption, respondents were split between enterprises, app developers, exchanges, and extra marketing efforts.

What about the killer blockchain-powered app we’ve all been hoping for or attempting to create? 21% of respondents thought it would come from the gaming space, 17% thought it would come from enterprise use cases, 17% thought it would be a consumer app, and 14% thought it would be a social media application.

Will adoption be easier if we move from BSV to a BSV-powered stablecoin like USDC? Respondents were evenly split on this question. Most miners, entrepreneurs, and developers agreed that it would make adoption easier, while regular users were somewhat indifferent, and traders disagreed.

Perceptions of nChain are positive

This coming 2023, a new wave of optimism has been injected into the BSV ecosystem regarding nChain and what it can do to make the lives of BSV developers, entrepreneurs, and everyone else easier.

The survey stated, “nChain provides resources to help the ecosystem grow.” 66% of respondents were either very or extremely satisfied, which should only increase as nChain’s efforts begin to bear fruit.

In general, nChain is viewed favorably in the BSV ecosystem. It’s clear that developers and entrepreneurs in Asia view the firm more positively when compared to European and North Americans.

Watch: The BSV Global Blockchain Convention presentation, Smart Contracts and Computation on BSV