What has Bitcoin SV (BSV) achieved just months after forking from Bitcoin Cash (BCH)? Read on to find out about the crypto following Satoshi's vision.
The future looks bright for Bitcoin SV (BSV).
This digital token carrying Satoshi Nakamoto’s vision of peer-to-peer electronic cash has been receiving many praises, a couple of months after this cryptocurrency was forked from the Bitcoin Cash (BCH) blockchain.
What significant progress has Bitcoin SV realized in just a short amount of time? Here are five of BSV’s recent developments:
#1 Scalability Upgrades
https://twitter.com/_BitcoinSV/status/1088132020071424001
The Bitcoin SV testnet has reportedly sustained mining 64 MB blocks in a day.
To prove that the SV blockchain is scalable, the Satoshi Shotgun team—responsible for the Professional Stress Test—conducted multiple tests on the Scaling Test Network for 24 hours. Those tests resulted in successful mining of blocks way larger than that of Bitcoin’s.
In addition, the limit on OP_RETURN functions has been raised to 100KB. This would allow Bitcoin SV developers to store an additional amount of data on every block in the network.
| Related: Free Bitcoin SV (BSV) Deposits and Withdrawals Coming to Voltaire Exchange
#2 Crypto Wallet Adoption
https://twitter.com/blockchain/status/1087781714724900865
More and more crypto wallets have begun accepting Bitcoin SV, albeit with considerations. One of these digital storage is Blockchain.com, which has added only “limited support” for the crypto.
BSV holders using the Blockchain Wallet can finally exchange their tokens for Bitcoin (BTC), Ether (ETH), Stellar Lumens (XLM), and BCH. This wallet can also be used to send BSV to other crypto addresses. Clients must take note, though, that Blockchain does “not have plans to enable full BSV functionality at this time.”
#3 New BSV Logo
https://twitter.com/bCommWorld/status/1080768286839791616
The Bitcoin SV community has recently decided a sleek brand new logo to represent the crypto coin. To celebrate the “rebirth of the original Bitcoin,” the new logo boasts simpler and up-to-date features than the previous BSV logo: an upright Bitcoin symbol, the Bitcoin text, and SV in superscript.
The dragon-featuring logo will not go away, however, as the Bitcoin SV Node will still carry the old emblem.
| Related: Here’s How These 5 Big Crypto Mining Firms Reacted to Devastating Bear Market
#4 Activation on Coinify
https://twitter.com/coinify/status/1087294524018302976
Online merchants can finally accept BSV as a mode of payment, thanks to Coinify integrating the digital token into its services. The crypto payment provider revealed last week that sellers online can finally use Coinify in doing business with BSV holders, as well as converting the cryptos into a local fiat currency.
Popular Bitcoin SV supporter and nChain CEO Jimmy Nguyen explained
#5 New Binance Trading Pairs
https://twitter.com/binance/status/1087223447543963648
To cap off an eventful January for BSV, Binance has launched more trading pairs for Bitcoin SV. Token holders on this crypto exchange can finally trade their BSV coins for stablecoins TrueUSD (TUSD), Paxos Standard Token (PAX), and USD Coin (USDC). Together with Tether (USDT) and BTC, these newly added pairs increase the total number for BSV on Binance to five.
| Related: Worried About Your Crypto Taxes? Coinbase Has Your Back
