Bitcoin SV (BSV) continues to attract mainstream attention now that it is removing another limit on their network and allowing more efficient transactions to occur. The result of the Bitcoin Cash (BCH) hard fork and the alleged “only public blockchain that maintains the original vision for Bitcoin” is quickly becoming a popular investment for crypto enthusiasts everywhere.
BITCOIN SV SURPASSES TRANSACTION OBSTACLE; SCALING AND BEYOND
Earlier this week, Bitcoin SV finished a Scaling Test Network (STN) showing that the BSV network could handle a 64MB block over the course of 24 hours. Daniel Connolly, the head developer of the BSV node confirmed this. Adding on to the development, James Belding, head of Tokenized stated that this latest BSV improvement will “allow our Tokenized system to run with the same flexibility and capabilities as Bitcoin itself!…and this isn’t scratching the surface either.”
BITCOIN SV IMPROVEMENT GETS WIDESPREAD MEDIA ATTENTION
Far from media hype, Bitcoin SV’s latest technological development proves that it can compete with the other major cryptocurrencies. The limit that previously existed on the BSV network was called “OP_RETURN,” a function that stored obscure data on BSV’s blockchain. By storing this data within the block, the OP_RETURN function started the interaction of many applications. Hence, occupying more space and making things slower than they needed to be. With this limitation now removed, BSV can simply allow the principles of economics to dictate it’s use.
BITCOIN SV PRICE ANALYSIS
Despite this positive news for BSV hodlers, it seems the coin’s price is not responding in a manner many would have expected. While far from crashing, the price of BSV is in a minor decline this time. There is still some work to do for this new entry to the crypto market and it will take some time for it to find it’s rightful place amongst the ranks. Until then, keep holding as all signs point to a promising future for BSV.
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