What is This Cryptocurrency? Bitcoin SV
Bitcoin has many different versions after there have been some forks. Initially, Bitcoin was created in 2009 and from then on has had different roadmaps by each community. After the fork that created Bitcoin Cash, Bitcoin Cash also had a fork that led to the creation of Bitcoin SV. Bitcoin SV is a cryptocurrency that was developed in order to allow Bitcoin to work in a different way than simply as a means of storing value and performing transactions.
Bitcoin SV was created with the vision of creating an infrastructure in the blockchain to create smart contracts and for greater scalability within the project. The creation of blocks as well as the way the blocks interact can greatly affect the way cryptocurrencies work. Bitcoin, or the original Bitcoin, allows for the mining of Bitcoin, storage of value, and as well as the the ability to use Bitcoin to send and receive payments for transactions.
The difficulty with all these options is that Bitcoin Cash which was the first fork was created to allow Bitcoin to be used as an everyday cryptocurrency. While it is similar to Bitcoin, it has a smaller transaction fee, smaller transaction time, and a price that is less than Bitcoin. Bitcoin SV looks to create a Bitcoin that can help create smart contracts and possible dapps as seen with other cryptocurrencies such as Ethereum, Neo, and Tron.
Bitcoin SV is currently worth around $180 and also has a circulating supply similar to Bitcoin and Bitcoin Cash. While the price is still impressive, there are many factors that affect Bitcoin SV. While each Bitcoin seems to serve a distinct purpose, it is interesting to see if Bitcoin will remain the top Bitcoin or if there will be an improvement. There can still be more forks and the cryptocurrency may still have a different version that can be available in the future.
The important thing to keep in mind is that the price at the moment is not the most important determining factor concerning the importance of Bitcoin. The important part is the ability to scale, inter-operate, and function in a way that allows for ease of use and access for many. A Bitcoin that can integrate a smart contracts component similar to Ethereum may be a game changer or it may simply be Ethereum with the Bitcoin name. It all depends on the roadmap and the way each Bitcoin functions.