There have been many smear campaigns aimed at discrediting Bitcoin SV (BSV) since it was established in November 2018. As the use of digital currencies dominate markets and blockchain gains a foothold as a legitimate innovative technology akin to the Internet in its early years, competitors become afraid of the original Bitcoin—the peer-to-peer electronic cash system that became the first ever successful digital currency. Despite fake news and smear campaigns, here are the reasons why BSV continues to grow steadily and why industry leaders, businesses and investors continue to trust it.
“For any legitimate business that seeks to build a lasting solution, there is only one blockchain that does the job. The original protocol, Bitcoin SV, serves our needs perfectly,” said Eli Afram, CTO of Australia-based Layer2 Technologies.
In the first quarter of 2020, BSV has completely restored the original Bitcoin protocol. It is now set in stone and provides the most stable of foundations. Just like a house built on sand, if the foundation is not solid, then the house collapses. The BSV protocol is like a rock-solid foundation that can accommodate an unlimited number of floors to be built on top of it. With the BSV protocol in place, developers need not worry about it being changed—which will affect the platforms built on top of it—they can focus on creating applications that best suit their needs. With an endless potential for use cases, it is not a wonder why BSV is considered the smart choice in business.
“BSV not only scales to the level we need for commercial deployments, it does so at a fixed cost. BSV now gives us a significant advantage over client server architectures,” Matthew Dickson, CEO of BitBoss, a US-based company that delivers technological innovation to the gaming industry, said.
By restoring the original Bitcoin protocol, BSV also unleashed the capacity of its blockchain for infinite scaling. This means that data blocks are being continuously scaled massively to be able to handle big and bigger data. Because of this, the BSV network can handle microtransactions at a very low cost. According to a 2020 report, BSV processed a total of 129 million transactions at an average of 0.002 USD per transaction for the period of January 1 to July 24. As the blocks get bigger, the number of transactions they can accommodate also increases. Early this year, the BSV test network hit a record of 9,000 transactions per second. It never really hits a scale ceiling.
“We started that project 2018. We made a lot of trial and error. We started on other blockchain projects. But finally we found that BSV can resolve all the issues we have – reliability, security, scalability and regulatory compliance,” Jay Lee, CEO of ONEStore, the second-largest mobile app store in South Korea, said.
Global adoption has always been the ultimate goal of the original Bitcoin, and this will never be realized if the network facilitates illegal activities. This is why BSV has always maintained a regulation-friendly mindset. All BSV transactions are valid no matter which country or region they were made. And these are just three of the many reasons why competitors are so afraid of Bitcoin SV. It is stable, secure, scalable, immutable and honest—it has what it takes to completely dominate the global market.