Bitcoin SV (BSV)
Rank #95
Market snapshot
- Price
- $15.72
- Market cap
- $315.6M
- 24h volume
- $14.6M
- Circulating supply
- 20,072,046.875
- Total supply
- 20,072,046.875
- Max supply
- N/A
What is Bitcoin SV?
Bitcoin SV (BSV) is a cryptocurrency that is built to support large-scale transactions. Each script can include up to 4.2 GB of data, enabling sophisticated applications while remaining true to Bitcoin’s peer-to-peer vision.
How Bitcoin SV works
Users are able to generate BSV through the process of mining. The BSV Blockchain represents Bitcoin’s original design as an electronic cash system. The network has processed blocks as large as 4 GB and over 50 million transactions in a single day. With no protocol-defined maximum block size, BSV can scale naturally as demand grows. The mainnet currently processes 2,800 transactions per second, and ongoing development aims to achieve over 1 million transactions per second on the Teranode testnet. Using Simplified Payment Verification, users can transact with near-instant settlement without maintaining the entire history of the blockchain on their device.
Key information
- Symbol
- BSV
- CMC rank
- #95
- Network / platforms
- N/A
- Categories
- Mineable, Proof of work, Store of value, SHA-256, State channel
- Date added
- Nov 9, 2018
Key characteristics
What sets BSV apart is its approach to scalability through the original Bitcoin protocol design. Protocol stability is a cornerstone of BSV’s approach, allowing developers and enterprises to build with the confidence that the fundamental rules of the protocol will not change based on developer whims or political decisions. BSV maintains the original Bitcoin Script functionality, providing a consistent foundation for long-term development. Applications built today will continue functioning as the network grows, eliminating technical debt and compatibility issues. BSV’s public and open blockchain enables unparalleled levels of transparency, while features like its Network Access Rules and Digital Asset Recovery provide a compliance framework for enterprises.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Bitcoin SV?
- Bitcoin SV (BSV) is a cryptocurrency that aims to provide a scalable electronic cash system.
- How does Bitcoin SV work?
- Bitcoin SV operates by allowing users to generate BSV through mining. It processes transactions on a blockchain that can handle large volumes without artificial constraints.
- What are the technical characteristics of Bitcoin SV?
- Bitcoin SV maintains the original Bitcoin Script functionality and offers protocol stability, allowing developers to build applications that will function as the network grows.
- What are the risks associated with transferring Bitcoin SV?
- Digital asset prices can be volatile. Users should verify network details and custody methods before transferring assets.
- How can I verify my acquisition of Bitcoin SV?
- Verify the asset name and network before transferring. Ensure you understand the custody method used.
- Where can I find official resources for Bitcoin SV?
- Official resources for Bitcoin SV can be found on its website and GitHub repository.
