In our commitment to continually broaden our offerings, we are introducing a new project addition - BitcoinSV, also known as “Bitcoin Satoshi Vision”. It is a blockchain project that aims to achieve the original vision of Bitcoin by focusing on scalability, true decentralization, low transaction fees, and other features. In this article, we will discuss the Bitcoin SV blockchain, Bitcoin SV Smart Contracts, BSV coins, statistics, and unique features. We will also provide a concise guide on how to buy or trade BSV coins.
In this article, we will discuss what the BitcoinSV blockchain is, BitcoinSV Smart Contracts, BSV coins, statistics, and features. We will conclude with a concise guide on how to buy or trade BSV coins.
What Is Bitcoin Satoshi Vision?
Bitcoin Satoshi Vision (Bitcoin SV) is a blockchain project that claims to adhere to Satoshi Nakamoto's original vision for the Bitcoin Protocol. It aims to provide security, transparency, true decentralization, and scalability.
Bitcoin SV is a hard fork of Bitcoin Cash, which itself is a fork of the Bitcoin protocol. The development of Bitcoin SV was led by Craig Wright after a significant disagreement arose within the Bitcoin Cash community regarding the project's direction and technical roadmap. As a result, Bitcoin Cash split into two: Bitcoin SV, which intended to follow Satoshi's vision, and Bitcoin Cash, which continued with the original protocol.
The original vision of Bitcoin, as claimed by Craig Wright, the alleged "Satoshi Nakamoto," and implemented by Bitcoin SV, includes:
- Miners fulfilling their roles as service providers.
- Utilizing Bitcoin SV's economic incentives to enhance network security.
- Scalability.
- Developing advanced mining client software to meet the global demand for ledger space.
- Promoting a culture where transaction fees determine the pricing of transactions.
- Facilitating a small world network at the heart of a Mandala network, connecting billions of devices.
What makes Bitcoin SV unique is its ability to accommodate more transactions due to larger blocks, its rejection of Segregated Witness (SegWit), and its focus on micropayments and advanced smart contracts. However, it's worth noting that Bitcoin SV has faced skepticism due to the controversies surrounding Craig Wright's claim of being Satoshi Nakamoto.
Blockchain developers from established networks like Ethereum are attracted to Bitcoin SV due to its scalability, which allows for growing adoption without incurring high transaction fees. This stability and effective environment for blockchain development and experimentation make Bitcoin SV appealing to enterprise and government users.
BitcoinSV Smart Contracts
BitcoinSV (BSV) smart contracts, more accurately termed "self-executing digital agreements," offer various functionalities on the BSV blockchain. Bitcoin SV utilizes Bitcoin Script and Turing-complete language to enable smart contracts that automate complex transactions, including escrow, multi-party signatures, and automated payments.
These smart contracts are legally enforceable and programmable for monetary transactions, making them ideal for business and legal use cases. They offer interoperability across different systems, creating a decentralized environment where operations can be conducted without the need for a central authority or third party. Leveraging BSV's scalability and low fees, these contracts are versatile, covering logistics, supply chain management, data integrity, and providing strong security and transparent communication.
What Is BSV Coin?
BSV is the native cryptocurrency of Bitcoin SV, used to govern the blockchain. BSV coins are used as transaction fees for sending BSV tokens, which serve as incentives for BSV miners to secure the blockchain. Apart from transaction fees and incentives for miners, BSV can be used as a digital currency for goods and services, micropayments, global remittances, data management, and to facilitate smart contracts.
BSV Statistics
Total Token Supply: 21,000,000 BSV
Market Capitalization: $1.7 Billion
Trading Price: $89
Cryptocurrency Rank: #52
BitcoinSV Features
Below are some of the features of BitcoinSV that make it unique:
- Scalability: Bitcoin SV aims to address the scalability issues faced by Bitcoin. With thousands of Bitcoin transactions experiencing delays due to block processing, Bitcoin SV's larger block size and increased transaction speed aim to overcome this limitation.
- Rejection of Segregated Witness (SegWit): Bitcoin SV rejects SegWit, which was introduced in Bitcoin to increase its block capacity. This rejection stems from the belief that SegWit deviates from Satoshi's vision and adds complexity to the block structure, potentially compromising Bitcoin's security.
- Smart Contracts: Bitcoin SV incorporates smart contracts, enabling automated and self-executing contracts on the blockchain. Smart contracts find applications in decentralized finance, automated payment protocols, decentralized apps, and more.
- Low Transaction Fees: Bitcoin SV features low transaction fees due to its larger block size, which allows for a higher volume of transactions per block and reduces the cost per transaction.
- Micropayments: Bitcoin SV's BSV cryptocurrency supports mic high transaction speed. This makes it suitable for conducting small-value transactions efficiently.
How to Buy and Trade BSV Coins?
CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including BSV, users can now trade easily and seamlessly. To purchase BSV coins on CoinEx, follow the steps below.
- Create an Account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to BSV Trading Page: Once your account is funded, navigate to the dedicated BSV trading page on CoinEx. You can locate BSV trading pairs on the spot trading page using a search box and enter the term "BSV" to find the associated pairs.
- Choose a Trading Pair: Select the trading pair BSV/USDT to trade BSV if you want to trade against USDT (Tether).
- Specify the Purchase Amount: The next step is to specify the number of BSV you wish to buy. You have the option to either buy them at the current market price or set a limit for your desired buying price on the trading page.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade BSV tokens on CoinEx, taking advantage of the available trading pairs.
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