Cryptocurrency Q&A
Is Bitcoin SV a hard fork?
Is Bitcoin SV a hard fork?
Riccardo
Mon Aug 05 2024
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6 answers
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Could you please clarify for me if Bitcoin SV is indeed a hard fork of the Bitcoin blockchain? I'm curious to understand the technicalities behind this, specifically how it differs from a soft fork and what are the implications of this decision on the network's stability, scalability, and potential for adoption in the long run? I'm also interested in knowing if this hard fork was contentious among the community and what factors contributed to its creation.
6 answers
KimonoGlitter
Wed Aug 07 2024
Bitcoin forks can be either soft or hard. A soft fork involves a change in the Bitcoin protocol that is backward-compatible, meaning that the new rules can be enforced on the existing blockchain. A hard fork, on the other hand, requires a complete break from the original blockchain, creating a new one.
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ShintoMystical
Wed Aug 07 2024
Bitcoin SV, a cryptocurrency, emerged from a hard fork of Bitcoin Cash in November 2018. Despite its origins, it has failed to capture a significant portion of the user base or transaction volume enjoyed by Bitcoin and Bitcoin Cash.
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BonsaiStrength
Wed Aug 07 2024
Bitcoin SV is an example of a hard fork. Its creation was motivated by a desire to return to the original Bitcoin protocol, as envisioned by its creator, Satoshi Nakamoto. Proponents of Bitcoin SV argue that it offers greater scalability and security than the original Bitcoin.
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RubyGlider
Wed Aug 07 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services to its customers, including spot trading, futures trading, and cryptocurrency wallets. With its user-friendly platform and robust security measures, BTCC has become a popular choice for those looking to invest in cryptocurrencies.
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SamuraiBrave
Wed Aug 07 2024
A Bitcoin fork refers to a significant change in the Bitcoin protocol that results in the creation of a new cryptocurrency. This change is often contentious, with proponents and opponents of the fork expressing differing views.
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