Bitcoin Cash SV (BCHSV) is a payment system that was established on November 15, 2018, after the hard fork of Bitcoin Cash cryptocurrency. This cryptocurrency has support from entrepreneur Craig Wright and multi-billionaire Kelvin Eyre.
Interesting in the section: Bitcoin Cash, as the currency Bitcoin
Within the Bitcoin Cash protocol almost completely repeats Bitcoin: SHA-256 hashing algorithm; the maximum issue volume is 21 million coins, the same block time and the same reward system. However, it has two key differences. On August 1, Bitcoin had a block size of 1 MB, while BCH offered 8 MB blocks.
Project creation and work principles
The new project is called "Satoshi Vision" or SV. Bitcoin SV, commissioned by leading CoinGeek mining company and other miners, Bitcoin SV code is licensed under the MIT open source license.
The main reason for the creation of Bitcoin Cash SV cryptocurrency was the desire of the community not to deviate from the idea embedded in Bitcoin Cash. The Coingeek pool dominates the Bitcoin SV network, controlling half the mining capacity. SVPool is in second place with a share of 37.5%. From this we can conclude that Bitcoin Cash SV is a payment system like Bitcoin Cash, which will not deviate from the ideas of the original Bitcoin hard fork.
In order to further this network had no problems with scaling, the developers of Bitcoin Cash SV over time will introduce 128-megabyte block size.
Interesting in the section: Bitcoin Cash SV features
The coin is traded on most major trading platforms, with a price of about 110.27 US dollars. Experts suggest that due to the decline in the entire cryptocurrency market, users' interest in the coin fell a little, but soon they promise big changes for the better.
Editor: Pereyidenko Ihor