Home » News » Why BSV is Bitcoin

Bitcoin News

Why BSV is Bitcoin

Martin Coxall, Director of Marketing at the BSV Blockchain Association, gave a primer on the BSV network and its ecosystem, and explained why BSV is Bitcoin.

The European Blockchain Convention took place in Barcelona from 26 – 28 June 2022 and featured a variety of presentations from speakers involved with the Bitcoin SV blockchain and the surrounding ecosystem.  

More than 1,500 attendees attended the conference, with more than 120 speakers presenting at over 40 panels, keynotes, workshops and fireside chats over the three days.  In addition to several panel discussions during the conference, The Bitcoin Association for BSV also held a more informal ‘after-hour’ event focusing on developers. 

Speaking at this after-hour event Martin Coxall, Director of Marketing at the BSV Blockchain Association, gave a primer on the BSV network and its ecosystem. He further explained why BSV is Bitcoin.

BSV – the original Bitcoin protocol

‘Bitcoin is more than just electronic cash. It is a blockchain, which means it is a distributed ledger. It is also a data network and a network protocol. All of this gives us a technological tool which has far more use and capacity than people know about.’ 

Coxall cited a report published by research and consulting firm MNP in 2021 which explains why BSV is the ‘true Bitcoin’ and adheres to the original Bitcoin white paper much more than any other protocol. He added that BSV’s transaction capacity and ability to scale far beyond other protocols and traditional finance players such as Visa.

‘Our endgame this year is to have a roadmap of one terabyte-sized blocks consistently and 4.2 million transactions per second. We are still very much in the beginning but we are looking at a system which will be uncapped, unbounded, and a true technology system that can change the world.’

‘Bitcoin SV scales better than any other public chain, it’s faster, it’s cheaper in terms of fees, it has a higher transaction volume, you can do micropayments and it just generally has more capacity to store data. On top of all that it is also the most energy-efficient proof-of-work blockchain’. 

Why we need Bitcoin SV

Coxall also highlighted some of the other important use cases of BSV, including: 

  • Smart contracts;
  • Tokens
  • IoT
  • Computation
  • Data management;
  • Public ledger capabilities.

Together, these features show BSV is the ideal blockchain for consumer, enterprise, and government-level applications, Coxall said. 

As the Internet use rapidly accelerates, data consumption will only continue to grow, said Coxall. He pointed to research that estimates that as much as 463 exabytes of data will be generated each day by humans by the year 2025.

‘Basically as the world grows, so does our consumption of data – so we need a blockchain solution which can scale equally,’ said Coxall.

Copy link
Powered by Social Snap