Why is BSV the original Bitcoin?
Blockchain was probably the best invention after the internet era because transactions between two individuals can now be carried out without intermediaries. The arrival of Bitcoin started with the Bitcoin whitepaper, which was described as an electronic trustless peer-to-peer cash system that enables people to send money around the world.
Many people see Bitcoin as a store of value; some see it as the ninth wonder of the world, while others see it as a means of paying or getting paid for their efforts. Since Satoshi wrote the Bitcoin whitepaper, many blockchains have failed to live up to expectations because of scalability issues. But according to this recent MNP study entitled “The Original Bitcoin Protocol: What Is It and Why Does It Matter?”, Bitcoin SV (BSV) is the most scalable blockchain that represents the information available in the original whitepaper.
Creating a solution without solving a problem
The most interesting thing about blockchain is that many projects have tried to copy the original blockchain to replace the existing systems. The problem is that many blockchain solutions create a system that focuses on removing intermediaries instead of building a fast and scalable blockchain solution. Many blockchain systems create a block of transactions, leading to the system being clogged up, which then results in expensive, slow, and unconfirmed transactions that are almost nonexistent in the traditional finance world. BSV blockchain is built differently because transactions are cheap, fast, and the original aim of a trustless system is maintained.
How can BSV help companies?
The Bitcoin whitepaper was not written for abstract purposes; it was designed to build a solution for companies and consumers to receive payment without intermediaries. Only a few business owners will agree to a system that allows their users to pay more in transaction fees than the original price of goods. Sadly, that is how most blockchain systems work. Large transaction fees make it difficult for users to accept BTC to pay for goods and services. The BSV system is built with speed and enables low transaction fees, with a single block size of 3.15 GB and an average transaction fee of 0.00000197 BSV as of February 2021. BSV transaction cost is low compared to traditional institutions like Paypal and Western Union.
How BSV can help to build scalable applications
One of the major aims of businesses is to build scalable solutions for customers. The competition among companies means that the most innovative ones survive the tide. Satoshi has envisioned this taking place. That is why he wrote the Bitcoin whitepaper to provide a payment system without intermediaries. Apart from the fact that the BSV solution has low transaction fees, it enables businesses to build scalable applications without affecting the entire blockchain.
BSV provides a solid foundation on which developers can build software that fits their needs. The genesis upgrade on the BSV network ensures that businesses can monetize their applications and use them for general-purpose computation. BSV blockchain is public, which means the system’s transparent governance ensures business owners trust the entire system.
Satoshi Nakamoto intended to create a solution, not adding problems to the entire solution. That is why BSV is building a system that follows his exact blueprint. BSV is a transparent blockchain solution that ensures scalability, high speed without compromising security. More and more businesses are discovering the properties of BSV to solve their existing data management problems.