Cryptocurrency Q&A
Why did BSV fork from BCH?
Why did BSV fork from BCH?
GeishaMelody
Tue Oct 22 2024
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7 answers
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BSV forked from BCH due to differing visions and priorities within the Bitcoin community. BSV aims to restore the original vision of Bitcoin by removing block size limits, emphasizing fast and low-cost transactions, and pursuing enterprise-level blockchain applications. This fork occurred in November 2018, creating a separate blockchain and currency that follows the principles outlined by its supporters.
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Carlo
Thu Oct 24 2024
The proponents believed that by increasing the block size, Bitcoin SV could accommodate more transactions per block, ultimately alleviating congestion and improving transaction processing speeds.
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Chloe_carter_model
Thu Oct 24 2024
The hard fork leading to the creation of Bitcoin SV was rooted in the ambition to elevate the limitations on block size. Initially set at 32 MB, proponents of the fork aimed to soar it to a new height of 128 MB.
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HanbokElegance
Thu Oct 24 2024
This significant enlargement in block size was deemed essential as it determines the quantum of data that can be encompassed within a single block. In essence, it enhances the scalability and efficiency of the blockchain network.
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ChristopherWilson
Wed Oct 23 2024
Additionally, BTCC provides a secure wallet service, ensuring users' digital assets are kept safe and accessible. These diverse services cater to traders of all levels, from beginners to seasoned professionals.
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Michele
Wed Oct 23 2024
However, this proposition ignited a debate within the cryptocurrency community, with opposing views arguing that the potential for centralization and higher hardware requirements might offset the benefits.
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