The hard fork Bitcoin SV(BSV) took place
Fresh news from one of the most interesting projects of the modern crypto industry. Bitcoin SV (BSV) has long been planning a new update of its own system, and this morning the hard fork finally took place. As it often happens, serious changes entailed a number of problems. Today we will consider all the nuances of this event, tell how developers will solve the situation and what to expect from the coin in the near future. In general, it will be interesting. Without further ado, let’s get started.
What exactly happened. We analyze the theory
First of all, some introductory information for those readers who did not follow Bitcoin SV. This is largely a unique coin. The name stands for Satoshi’s Vision. That is, the creators of the cryptocurrency at a certain point felt that Bitcoin was estranged from its “correct” original form. It was decided to split the Bitcoin Cash system (it is from this crypt that BSV comes from). The crypto quickly gained momentum, attracting more and more new users.
Like any major venue, BSV at some point came to a standstill. The audience of the project was divided, which is why a major update called Genesis took place on block number 620 538. New solutions, according to developers, should help the coin work more stable. The creators also worked on the scalability of the system, some functions returned to their original form. Now, for example, in a coin there is no limit on the size of the block for mining. The blockchain can again store all kinds of data. That is, Genesis is a work on bugs, which, however, itself did not go without flaws.
What is the BSV problem and how will the platform develop?
Despite the fact that the hard fork was planned and all the miners received a warning about the event, part of the system simply did not switch to new protocols. Several nodes, that is, large computers for mining crypto, remained on the old version of the system. In this regard, serious technical hitches occurred. System performance fell sharply, and block 620 539, that is, the first after the upgrade, was invalidated.
The developers quickly resolved the problem, recalling the importance of timely updates. Now that all the computers have finally switched to the new version of the protocol, everything seems to be in order. Mining continues, about 60 blocks have already been mined, the network works without problems.
Obviously, next time BSV will be more attentive to updates, but otherwise there is nothing to criticize the coin for. The project is actively developing, it is willingly invested in it, and tokens are sold well on exchanges. However, we recommend waiting for the best moment to buy Bitcoin SV. Wait until the cryptocurrency price drops and, if you are sure of this digital asset, buy tokens for a small amount.
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