It’s an old saying that Rome wasn’t built in a day. Great things take time, and restoring great things can take a long time, too.
Finally, the Bitcoin protocol has been restored, and as those who understood its power from the outset predicted, it’s gobbling all the other blockchains up. A handful of popular BSV apps are doing more daily transactions than Ethereum, LTC, and BTC put together.
This means BSV is officially the world’s largest public blockchain by all major utility metrics; daily transaction volume, data storage, scaling ability, and average block size.
— InvestWithĐiego🐉 (@InvestWithDiego) August 24, 2021
Bitcoin scales infinitely like Satoshi Nakamoto said
It’s been a long, hard road to restore the original Bitcoin protocol. BTC’s centralized protocol devs did so much damage that it took years to get the original protocol back to where it needed to be. However, that work has largely been done, and now the exciting phase begins. Apps are being built on BSV enterprise blockchain at a furious pace, and unlike vested interests in the industry, the data doesn’t lie. Here’s a snapshot of where BSV is today.
One popular app on BSV, CryptoFights, has been consistently generating around 2 million daily transactions. The game only re-launched in mid-August, so it’s safe to say that 2 million daily transactions is just the warm-up lap.
As people discover the BSV ecosystem with its lightning-fast transactions + low fees, they’re finding its other great applications. Peergame, Haste Arcade, PowChess, and BSV2048 are all seeing increased interest. Some of these games are still in beta and are already getting hundreds of interactions per day.
Throughout all of this, the mean fee has remained at $0.0014. Compare that to Ethereum’s average fee of $4.52, and it becomes obvious why Vitalik Buterin talks BSV down every opportunity he gets. After all, Ethereum couldn’t even handle a single casino app.
Finance apps like TDXP have been diligently working in the background to get ready for tens of millions of daily transactions while new protocols like MetaID lay the groundwork for a world of decentralized identity and data sovereignty.
Forward-thinking miners are already switching some of their hash power to process transactions on the BSV enterprise blockchain. As these transactions grow in number and BTC’s block reward diminishes with every halving, it’s easy to see what chain will be the most profitable for miners in the future.
Incubators like Satoshi Block Dojo are discovering and funding projects that will build on BSV. This is the beginning of the Metanet, the larger plan for a commercial alternative to the internet. Unlike the current internet, this one will be peer-to-peer and based on micropayments rather than controlled by data-harvesting corporations that profit from ads.
Listen as Dr. Craig Wright explains the Metanet and his true vision for Bitcoin in the coming decades. Doesn’t it make sense that Satoshi Nakamoto solved the problem of micropayments with a bigger plan in mind?
This is just the beginning for BSV
While its competitors would have you believe BSV is dead and gone, nothing could be further from the truth. BSV is only getting started. As developer interest picks up and new applications capable of micropayments are built on the BSV enterprise blockchain, the millions of daily transactions we see today will soon be invisible on a graph.
BSV will scale to millions and then billions of transactions daily. As Satoshi Nakamoto said, “it never really hits a scaling ceiling”. The true tsunami of development will begin now as developers realize that future promises and wishy-washy roadmaps offer nothing compared to a blockchain that scales infinitely today. Once the network effects kick in, there’s no going back.
The truth is that BSV has just teed off, and it has already made the competition look like a bad joke. While they hide behind excuses of political decentralization and layer-2 solutions that are always just 18 months away, the BSV developers have delivered a solution that’s ready for enterprise adoption today. Where it goes from here is limited only by the imagination of those who build on it.
Watch: CoinGeek Zurich panel, BSV Blockchain: Ignite the Power of Data
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.