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Bitcoin SV was shifted to a new blockchain, a process called ‘hard fork,’ on July 24. With the new upgrade, the block capacity was increased to 2GB, which now allows higher transactional volumes. While the upgrade saw the majority of the BSV nodes being shifted smoothly, many of the older nodes were separated from the chain. Though this doesn’t seem to be a big issue, it surely reflects the fervent infighting between crypto developers.
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As per recent reports, about 20% of the Bitcoin SV nodes are still operating on the previous version of the network. Though it still remains unclear as to why the nodes didn’t make it to the next level, it could either because they didn’t get the memo, or the operators didn’t agree to accept the changes and opted out in protest. An unnamed representative of BitMEX Research, the research arm of the leading crypto exchange said,
There was a hard fork on BSV which resulted in a chain split, the new hard fork rules chain and the original rules chain. Most of the BSV economy and miners followed the new hard fork chain. The old original chain still exists, but has little economic significance, other than miners wasting money mining on it.
Bitcoin SV (Satoshi Vision) is the brainchild of Craig Wright and the self-proclaimed creator of Bitcoin (Satoshi Nakamoto). It was initially forked out of the original Bitcoin blockchain. While Wright is busy fighting for his largely criticized and rejected claims, the nodes being left behind aren’t the only issue that BSV is facing.
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Just a few ago, a considerable part of the BSV nodes faced issues processing a 210MB block. The nodes facing problems got stuck, being unable to send or relay transactions on the upgraded BSV blockchain. Despite Bitcoin SV being among the prominent crypto-blockchain players, the network needs to seriously sort out the mushrooming issues, which could not only create an unnecessary hassle for users but also hinder growth and development. Although the team is working on rectifying the issues and stabilizing the network, the long-term investors need not worry about the stability and returns on the coin. To know about the long-term potential of the coin, you can read the BSV price prediction post before investing.
