SV Client Officially Goes Live As BCH Strives To Have Chain Splits
Nakomoto who has remained anonymous planned to have bitcoin turned into an electronic currency.
Will Satoshi’s Vision Be Fulfilled With Launch Of SV?
Bitcoin SV (Satoshi Vision) has gone live on GitHub. Bitcoin SV operates under Bitcoin Cash as a software client and it was published by nChain, a blockchain company. The protocol was unveiled this week with the aim of taking over bitcoin cash in tracking anonymous developer Satoshi Nakamoto’s goal. It wants to fulfil the dream of having bitcoin end up as an electronic cash.
Under the bitcoin cash system, SV will go active mid next month. It will propel bitcoin cash blocksize limit from 32MB to 128MB. Additionally, it will also roll out the Satoshi opcodes alongside increasing the value of opcodes on every script from 201 to 500.
It is key highlighting that the rollout was intentionally developed to be incompatible with agreed alterations on the previous updates conducted on Bitcoin ABC. At the moment, Bitcoin ABC is still the prominent bitcoin cashBCH with the current industry dip.
ABC’s client is also set to roll out a canonical transaction ordering. According to engineers, this ordering will propel mass scaling on the blockchain on top of a fresh opcode. This addition will in return make bitcoin cash compatible with cross chain atomic agreements.
The market is gearing up towards a chain split due to the tussle between SV and ABC. The split will be propelled by the upcoming bitcoin cash hard fork slated for next month.
At the moment, SV seems to have an upper hand after receiving supporting from Calvin Ayre, the head of CoinGeek. Additionally, it is being marketed by nChain’s Craig Wright. CoinGeek has a lot of influence in the industry since it runs a leading mining pool in BCH. It holds 26% of the bitcoin cash block mined in the past one week. Elsewhere, nChain has launched the SVpool which is in the trial phase accounting for 3.5% of the mining block.
Recently, Bitcoin Unlimited has tried to come up with an alternative in BU 1.5.0. The version was released over the weekend and it seeks to back SV’s planned features. Notably, users can configure all the changes by allowing the node operators to select the features they are backing into the system via a different activation platform.