What is Bitcoin SV? How does Bitcoin SV work?
- 王林Original
- 2024-03-15 21:00:04873browse
Bitcoin SV: A Bitcoin Fork Focused on Scalability and Utility
Bitcoin SV (BSV) is a digital currency that was launched in 2018 It was forked from Bitcoin (BTC) in November. BSV was created to solve the challenges faced by BTC in terms of scalability and utility.
How Bitcoin SV works
BSV is based on the same blockchain technology as BTC, but it has the following key modifications:
- Increased block size :BSV increases block size from BTC's 1MB to 2GB. This allows more transactions to be included in a single block, thus increasing the network’s transaction processing capabilities.
- Remove Segregated Witness (SegWit): SegWit is a technology that allows more transactions to be included in a block without increasing the block size. BSV removed SegWit because it was considered to limit the potential for block size growth.
- Restore the original Bitcoin script: BSV restores the original scripting language defined in the Bitcoin white paper. This allows developers to create more complex and powerful smart contracts and applications.
These changes to BSV are designed to enhance its scalability, practicality, and flexibility. By expanding the block capacity, BSV can process more transactions more efficiently, thereby reducing transaction costs and increasing transaction speed. Eliminating the SegWit mechanism facilitates the unlimited growth of block sizes, leaving more possibilities for future expansion. At the same time, restoring the original scripting language allows developers to create more innovative applications and services.
Bitcoin SV aims to become a more scalable, practical and flexible digital currency to meet daily transaction and enterprise needs.
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