According to the project's lead engineer, Bitcoin SV's scalability ensures that it will one day be able to serve billions of people on a daily basis.
Daniel Connolly, a member of the SV development team, told Crypto Briefing that the payment protocol will be used by billions of people. With the block size expected to grow to 2 GB by the end of next year, more people will be able to use Bitcoin SV without putting a strain on the system.
We are targeting 5 billion daily users. We still have a long way to go, but as we scale the network we are getting closer to our goal.
Bitcoin SV (‘Satoshi Vision’) is an implementation of the Bitcoin Cash (BCH) protocol that launched last month. BSV block size increased from 64 MB to 128 MB. According to SV supporters, this is the only possible solution for creating on-chain scalable payments. At the moment, the blockchain network is valued at $1.7 billion.
The main priority of Bitcoin SV is scalability. According to Connolly, the team plans to increase the block size to 512 MB in May, and then to 2 GB by next November. After 18 months, they plan to completely remove the capacity limit, and allow miners to decide for themselves what size blocks to mine.
The SV network was able to withstand a four-hour stress test, during which it processed 1.8 million transactions. According to nChain director of business services Simit Naik, SV is the only way to return Bitcoin to the form in which it was originally intended.
Satoshi described a seed system for conducting p2p transactions. Then a lot of people came into the industry and started turning it into a technological tool. However, the whole point of Bitcoin is its economic model - why change it?
But the hash war is not over yet
Yesterday Craig Wright said that he uses ABC as fertilizer for the garden. According to Naik, ABC will never merge back with SV. “The chain merger will make a mockery of the SV team,” he said. "They made their choice, they need to stick to it. Even if it means the end for ABC."
Unfortunately or fortunately, personal insults and attacks do not help the development of the network, so large investors and enterprises may leave the project. The irony of the situation is that, trying to attract users and investors, the Satoshi Vision team does not see the shortcomings of its own brainchild.
According to cryptobriefing.com
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