In the last couple of hours, Bitcoin SV has celebrated the successful launch of its Genesis hard fork. This is set to make the Bitcoin SV blockchain unbound. With faster speeds and better utility, this will make BSV stronger. And moreover, the blockchain is set to go back to Bitcoin’s original design, which has been termed as Satoshi Vision by BSV supporters.
Bitcoin SV: A New Era Begins
The Bitcoin SV community has been celebrating the successful launch hailing it as a new beginning for Bitcoin SV and the return of Bitcoin to its original design. The new protocols will see BSV resemble Bitcoin as was in Satoshi Nakamoto’s original Whitepaper.
It's a good night from Team SV . . . and a new dawn for Bitcoin. ☀️ pic.twitter.com/UUbPy12KTX
— Jimmy Nguyen (@JimmyWinMedia) February 4, 2020
With the development, the project has restored the original protocol on Bitcoin and ensured it is locked. This as one top influencer and BSV supporter notes, ensures builders can develop on top of the blockchain without worrying about changes.
While BTC & BCH technocrats continue to complicate & tinker with the protocol.
BSV just restored the original Bitcoin protocol & locked it down so it stays that way forever.
Now developers can build on top of BSV without worrying about protocol changes breaking their app!
— $Phamily (@_Kevin_Pham) February 4, 2020
In the latest development, scaling will be a key aspect of the new protocol. By removing block limits, the blockchain will allow for massive scaling. This has been a fundamental flaw with Bitcoin. Currently, Bitcoin can only handle 7 transactions per second. Prior to the Genesis launch, the BSV blockchain could handle 140,000 transactions per second. This is set to increase with the removal of blocks.
The launch comes just days after Maxthon announced it will be launching a Bitcoin SV powered internet and blockchain browser. Maxthon which is a leading internet browser company announced this launch, Maxthon 6, a few days ago adding that its alpha release could be expected by late Feb.
Maxthon stated that they believe the Bitcoin SV blockchain to be best suited to power the next-generation Internet, “Metanet.” Maxthon argued the reason for choosing Bitcoin SV was because Matanet requires a scalable blockchain. This is now possible with Bitcoin SV.
Jimmy Nguyen, President of Bitcoin Association and BSV supporter stated this about the partnership:
“Jeff Chen and Maxthon see early what the rest of the world will come to understand: the Internet’s future will be powered by the Bitcoin SV blockchain…”
Bitcoin SV is clearly making the right moves and is set to become a force that the industry must reckon with. But we must not forget that Craig Wright, the man behind the project is yet to prove he is Satoshi Nakamoto. He has continuously failed to provide the private keys to the Tulip Trust where it is believed that Satoshi’s 1.1M BTC is stored. As long as this case continues to prolong, there’s every chance that it will continue haunting BSV.