Fundstrat Global Advisors, a leading independent market strategy and sector research firm based in New York put out a report in early November titled: “Bitcoin SV: The “big block” Bitcoin targeting enterprise adoption”. You can find the full report here. The firm has a broad range of clients including institutional investors, wealth advisors, pension funds and high net worth individuals. Alex Kern and Sam Doctor, researchers with Fundstrat, prepared the in-depth analysis on BSV for their clients.
BSV has the capability to offer a scalable blockchain solution that no other protocol offers. Fundstrat points out that it is the “biggest block Bitcoin” and that it offers more transaction volume capacity. The report states: “The data shows that the network lags BTC and BCH transacted value, but it’s go-to-market strategy has advantages that could give it an edge in the enterprise market over the long-term.”
While the “transacted value” in dollar terms hasn’t reached comparable levels to BTC and BCH, the BSV community believes that is one of its main advantages. More transactions for less cost, this is exactly what it will take for widespread enterprise adoption.
The fact that BSV has the potential to reach more than 5,000 transactions per second based on the current maximum block size cap is starting to get noticed by enterprise level decision makers. Large block sizes help facilitate more transactions, and the results have already been made clear. BTC has an artificial block size limit of 1 megabytes (MB), while BCH implemented a limit of 32MB. On the other hand, BSV currently has the capability to handle blocks that are 2 gigabytes (GB), and miners have set a limit at 256MB with miners working in unison to reach these thresholds.
This results, per Fundstrat’s data analysis, in BSV having more transactions per the same number of blocks than BTC and BCH. For example, the firm’s report shows that the BSV, BTC and BCH blockchains see a number of transactions in a given 24-hour period that put BSV ahead of the pack, considering the history of the three. BTC sees an average of 319,354 transactions in the period while BCH sees just 42,363. BSV sees 236,479, which, given the fact that it has been around for just a year, means that it has quickly found a high degree of acceptance. The research report uses data from before November 6th, the current daily transaction volume on BSV has more than doubled since the report was originally sent out to Fundstrat clients.
Bitcoin SV has already reached a milestone Wednesday, as the daily transaction volumes eclipsed both ETH and BTC. According to data provided by blockchain analyzer BitInfoCharts, the BSV network added over 660,000 transactions to the BSV ledger versus 622,000 for ETH and 326,000 for BTC during the last 24-hour period.
BSV continues to attract more users and awareness as it is developed to be the only truly authentic blockchain, based on what Satoshi had originally envisioned. It is also seeing more development than the others, as Fundstrat emphasizes. The analysts explain, “A diverse set of applications is necessary for Bitcoin SV to grow share vs competing blockchains. There are now over 300 published BSV applications and developer tools.”
As has already been realized, it’s going to take a while for digital currency to be accepted as the norm. However, this isn’t true of blockchain. It is rapidly gaining favor around the world and BSV has the ability to serve enterprise needs now with a steady protocol that will allow businesses to become more efficient and profitable. The Fundstrat report was very objective by pointing out both the benefits of BSV and its advantages in the space while also highlighting areas of improvement that the authors believe will help the protocol achieve wider adoption as well as market value.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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