What is Bitcoin Cash SV (BCHSV) – How Does it Works? (Easy To Understand)

BHD mining on HDD and SSD x
BHD mining on HDD and SSD

What is Bitcoin Cash SV (BCHSV)? –  Good day. Friends, in this article, we will tell you about the Bitcoin Cash SV cryptocurrency. We will try to highlight its main technical features and differences from Bitcoin Cash ABC.

What is Bitcoin Cash SV

Bitcoin Cash SV is a cryptography-based payment system that was created on November 15, 2018, after the hard fork cryptocurrency Bitcoin Cash. This cryptocurrency has support from entrepreneur Craig Wright and multi-billionaire Kelvin Eyre.

The main reason for the creation of cryptocurrency Bitcoin Cash CB was the desire of the community not to deviate from the idea embedded in Bitcoin Cash.

Features Bitcoin Cash CB

Based on the information above, we can conclude that Bitcoin Cash SV is a payment system similar to Bitcoin Cash, which will not deviate from the ideas of the original Bitcoin hard forks.

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In order for this network to have no problems with scaling in the future, the developers of Bitcoin Cash SV will eventually introduce 128 megabyte block size. On the introduction of new developments, or the addition of a network of broader functionality.

The difference between Bitcoin Cash SV and Bitcoin Cash ABC

People who are supporters of scandals and divisions, over time, face similar problems in their projects. Roger Ver, who in August 2017 was one of the initiators of the Bitcoin network division, ran into this situation.

Now, the Bitcoin Cash network also has a group of people who did not want to follow in the footsteps of Roger Vera. As a result of this, when block No. 556767 was reached, the network was divided.

Roger Ver and his supporters wanted to further develop their project, and integrate into it the possibilities of sending cross-transactions and creating a platform for dApp, as well as using “canonical-order transactions”. As conceived by Vera and the company, this functionality will help the project to gain a larger share in the market.

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After hardfork, it is Bitcoin Cash ABC coins that are old BCH coins, but over time the ticker will be changed to BCHABC.

Where to buy coins bchsv

Immediately after the separation of the network, representatives of the largest cryptocurrency marketplaces expressed support for both projects. At the moment, BCHSV coins can be purchased on the Binance,  Gate.io, UpbitPoloniex and other stock exchanges.

On the 5th day after hard forks, Bitcoin Cash SV capitalization data is not yet available, but the daily trading volume is $ 100 million. Price BCHSV is $ 55.

Outlook Bitcoin Cash SV

It is difficult to talk about the prospects of this cryptocurrency a few days after it became available for trading. And given the fact that her supporter in the person of Kelvin Eyre, before the network was divided, he controlled 75% of the hashrate of Bitcoin Cash, which was aimed at mining, this project would be almost impossible to develop.

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Most likely, you should not expect from Bitcoin Cash SV that the project will develop separately from the market, therefore, its growth or decline will depend on the overall market situation.

Conclusion

If you want to know what Bitcoin Cash ABC cryptocurrency is about, then follow the link. Friends, that’s it, until we meet again. And do not forget to subscribe to our