It is an understatement to say that the year 2020 has not been good for businesses worldwide due to the coronavirus pandemic and its subsequent economic impact. While many industries are suffering, it seems that the cryptocurrency market has grown, as a large part of people’s decision is to invest in digital money. Because they expect the value of the US dollar to continue going down, especially with the second wave of coronavirus hitting the United States and other countries.
With Bitcoin being the pioneer in digital money and blockchain technology, many are looking to invest in it. However, there are three Bitcoin factions in the market today; which one is the most stable and has the most growth this year?
A Brief History
Bitcoin creator Satoshi Nakamoto, known in the real world as nChain Chief Scientist Dr. Craig Wright, published his white paper on which the original Bitcoin design was based in 2008. His vision is for the data blocks in the Bitcoin blockchain to be continuously scaled to keep up with the needs of the market and create a stable protocol on which innumerable applications can be built, much like how online platforms operate using the Internet protocol.
Bitcoin Core (BTC) and Bitcoin Cash (BCH) have decided in 2017 and 2018 to let go of this vision and instead create their own versions of Bitcoin. BTC is more like digital gold, an asset that does not have any other use. On the other hand, BCH has become known for its dubious transactions, with it being the subject of numerous investigations.
Bitcoin SV (BSV), with SV standing for Satoshi Vision, was born on November 15, 2018. Since then and despite the pandemic, Bitcoin SV has successfully restored the original Bitcoin protocol, unlocked the blockchain’s limitless scalability to handle big data, enhanced its security measures, and strove to maintain a regulation-friendly mindset that businesses can trust. Bitcoin SV is legal, stable, and is continuously upgrading so global enterprises can build applications on its blockchain.
Bitcoin SV: Emerging Leader in Blockchain Technology
Bitcoin SV always strives to be relevant today and in the future. For instance, EHR Data, Inc. and partner companies have chosen to record their healthcare database amounting to more than 4 billion transactions on the Bitcoin SV blockchain to keep track of coronavirus and other future health crises. Twetch, a responsible social media platform that brought back ownership of data to its users, is also built on the BSV blockchain—and it is crucial in hindering troll attacks and the spread of fake news.
Because Bitcoin SV places value on data, and data is the single most important commodity in today’s digital economy, it is undeniable that it will dominate other cryptocurrencies shortly. Where everything became online because of the Internet, in the future, everything will be on-chain because of Bitcoin SV.