Bitcoin SV (BSV)

Basics

• A hard fork off of BCH which happened on 2018-11-15.
• Implementation of Bitcoin Cash by Craig Wright supported by the mining pools Coingeek, SVPool, Memepool and BMG Pool

Audits & Exploits

• Bug bounty program can be found [insert here].

Bugs/ Exploits

• On October 17, 2022 BSV network was under a DoS attack by a miner producing empty blocks preventing finalization of new transactions. From Crypto Briefing (9-11-2020):

"A critical flaw in Bitcoin SV’s ElectrumSV wallet has led to widespread theft, according to user reports on social media. Developers disabled the vulnerable multisig feature in ElectrumSV 1.3.8 after reports of user losses."

Reorgs

• According (18-4-2019) to Nikita Zhavoronkov of blockchain explorer Blockchair, Bitcoin SV has experienced a six block or more reorganization due to miner confusion or fighting; blocks 578640-5 were orphaned, perhaps due to the size of the blocks with number 578644 coming in at 128 mb which is known to cause reorgs or orphaned blocks; the network was down for 1.5 hours during the reorg.
• From BlockThreat (24-7-2021):

"On July 8, 2021 BSV chain had reports of an ongoing 51% attack. The attack was reported to be coming from a miner going by the name ZULUPool."

• From Bitcoin.com (5-8-2021):

"Reports show that the Bitcoinsv blockchain suffered from a 51% attack on Tuesday, August 3, 2021, as the founder of Blockchair, Nikita Zhavoronkov explained the network endured a 100 block reorg “wiping out 570k transactions.”"

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Upgrades

• From BitMEX (14-11-2022):

"On 10 November 2022, the Bitcoin SV (BSV) Association released a new hardfork client, BSV 1.0.13. This new client contains a potential hardfork protocol change. It appears as if the upgrade may allow anyone cooperating with miners or the administrator of a centrally controlled “whitelist” to confiscate any BSV coins from any user at any time."

• Had a hard fork on 2019-07-24 called Quasar, which gave BSV a block size limit of 512MB .

Roadmap

• Can be found [Insert link here].

Usage

Projects that use or built on it

• Twetch; a micropayment-based social network with (9-9-2020) an encrypted direct-messaging function that lets users send each other money in the chat.

Coin Distribution

• From Coin Metrics #38 (18-2-2020):

"Bitcoin SV (BSV) percentage of supply held by addresses with balance of at least 1/1K has remained relatively flat, outside of a significant dip in February 2019, and a sudden increase in June 2019. In August 2018, when BSV forked from BTC, these large addresses held about 26% of BSV supply. As of February 2020, they hold about 24%."

• From a twitter thread by Adam Cochran (29-4-2020): In BSV 1250 addresses hold 55.6% of BSV

Pros and Cons

Cons

• From BitMEX (14-11-2022):

"On 10 November 2022, the Bitcoin SV (BSV) Association released a new hardfork client, BSV 1.0.13. This new client contains a potential hardfork protocol change. It appears as if the upgrade may allow anyone cooperating with miners or the administrator of a centrally controlled “whitelist” to confiscate any BSV coins from any user at any time."

• From Bitcoin.com (20-12-2019) which is pro-BCH:

"In the last two days there have been two critical posts published against the Bitcoin Satoshi’s Vision network (BSV). On December 17, Binance Research published an allocation mining report that analyzed the mining activities of BTC, BCH, and BSV and the research detailed that BSV miners are mining irrationally to protect their investment. The following day, the firm Bitgo published a report that disclosed it will be depreciating BSV because of the upcoming hard fork that aims to remove Pay-to-Script-Hash (P2SH) outputs."

Team, Funding, Partners

Team

• Full team can be found [here].
• Craig Wright, creator. "Craig Wright, who doesn’t actually code and is not the main owner or CEO of Nchain"

Funding

• Calvin Ayre, investor