Comparing Bitcoin and two of its forked cryptos: Bitcoin Cash and Bitcoin SV. The two forks wanted a larger block size in order to scale the network. The groups could not come to an agreement and the forking began!
1. Overview
As Bitcoin grew in popularity, the fees skyrocketed,
transaction times slowed and it was clear that
scaling was an issue. Different groups disagreed
about how to improve it, so one group forked
Bitcoin Cash to increase the block size.
Then, Bitcion SV (Satoshi Vision) forked off of
Bitcoin Cash to increase the block size further. The
three are completely separate cryptos today.
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3. Bitcoin (BTC)
● Original decentralized crypto using blockchain
● Born Jan. 3, 2009
● Max supply of 21 million coins
● Block size of 1MB were being filled over time.
● Scaling, fees, and transaction times became a
problem as investors came in.
● Uses Segwit to strip some data off transactions,
allowing more to fit on one block.
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4. Bitcoin Cash (BCH)
● Hard fork of BTC, focused on digital cash
● Born on Aug. 1, 2017
● Increased the block size to 8MB, then 32MB
● More transactions are processed at once.
● Max supply of 21 million coins
● Does not use segregated witness (Segwit)
● The original vision of digital cash lives on
● Max block sizes lately (2020) are around 2MB
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5. Bitcoin SV (BSV)
● Born Nov. 15, 2018, led by Craig Wright
● Hard fork of Bitcoin Cash (fork of a fork)
● An increased block size of 132MB
● Max supply of 21 million coins
● Being used by apps to store large data sets
● Has had incredibly low transaction fees
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