Bitcoin Cash vs Bitcoin SV

As is well known, in 2017 there was an amazing rise of monetary production through the Bitcoin Cash network, leaving many puzzled and generating the promise of high transactions with low fees where the goal was to introduce non-cash transactions that would bring a level of smart-contract functionality to Bitcoin Cash.

After this event, the story seemed to repeat itself the following year, when in 2018 the Bitcoin cash network was divided into two, giving rise to what is known today as Bitcoin Satoshi Vision or as Bitcoin SV.

In this particular case, the goal of Bitcoin SV is to be an enterprise based layer for businesses, which might be used for anything from launching token-based assets to a ledger that helps businesses manage their supply chains.

The hard fork of this crypto is captivating, because on it is involved not just an ingenuity to roll back Bitcoin Cash’s protocol changes, but even an significant effort, by some of the members in community, to efficiently spread Bitcoin Cash out by captivating all of its hash power. The perfect time to see how both chains are advancing, and how they can be compared to their main root, the Bitcoin, was proven a couple of months later.

The hash war ended as the Bitcoin SV squad announced a permanent split from Bitcoin Cash, allowing replay security on the chain. After that, hash rates on both sides have fallen noticeably. The Bitcoin Cash network now has 2.13 Exahashes a second related to Bitcoin SV’s 447.19 Petahashes per second.

Despite the renowned hash war mentioned by all in the course of the months after the days of the division occurred, both have been held as independent beings, and to understand more specifically how each works, it is necessary to make a comparison between them with the events occurred:

  • Mining: Bitcoin SV hard-forked without replay protection, which posed an existential risk to Bitcoin Cash. This led miners on both chains to contribute hash power unprofitably.
  • Block size: Bitcoin Cash increased its block size limit from Bitcoin’s 1 MB to 32 MB. Bitcoin SV subsequently increased its own block size limit from Bitcoin Cash’s 32 MB to a whopping 128 MB.
  • Transactions Volume: Bitcoin Cash and Bitcoin SV both claim to fulfill the original value proposition of Bitcoin.

Consecutively, as Bitcoin’s network raised, so did transaction times and fees, where Bitcoin Cash larger blocks were intended to help the network scale with fast transaction times and low fees. Following the hard fork with Bitcoin, Bitcoin Cash first increased the block size limit to 8 MB and eventually to 32 MB. Bitcoin SV subsequently quadrupled that limit to 128 MB.

Both chains give the impression to be pleased to go their separate ways, where Bitcoin Cash seeks to fulfill what it sees as the original promise of Bitcoin as a fast and cheap electronic cash system. Meanwhile, Bitcoin SV sees Bitcoin as a scalable blockchain layer that businesses and enterprises can build on top of.