Price of Bitcoin Cash SV is Rising Despite Intense Market Sell-Off
One of the most important events that took place in the cryptocurrency world in 2018 is definitely the Bitcoin Cash hard fork. The hard fork gave rise to the Bitcoin Cash SV and the Bitcoin Cash ABC network. The harsh war between the two class of network protocol has been blamed for the massive drop in price the entire crypto industry is engulfed in. In spite of the intense bearish market the industry is having, one of the two newly formed forks of BCH has been going strong. The Bitcoin Cash SV has recorded an increase of 3% higher against the dollar in the past 24 hours and it is currently priced at $65.
Bitcoin Cash SV is in the Green Zone
Comparing this to the price of its competing fork, the BCHABC, which is 21% down against core Bitcoin, the coin is doing pretty well for itself.
This disparity in profit/loss between the two hard forks has been blamed on several factors. Principally, it has been reported that the group behind the Bitcoin SV hard fork has been making moves targeted at making the network the fastest.
It was reported that: CoinGeek and nChain, the startup owned by Craig Wright, have formed a formal partnership on the Teranode project to bring 1 Terabyte blocks to the SVchain, to deliver network throughput seven million transactions per second.
A nChain’s dev lead Steve Shadders has made some statement regarding this collaborations. He stated that:
“Teranode is my baby. The first prototypical iteration of Teranode was just born after the November 15 hard fork of BCH. As we are watching Bitcoin SV in real-life action, we are studying performance hurdles and building new solutions for the enterprise-class Teranode.”
He added: “It’s time for Bitcoin to grow up and professionalize. We appreciate CoinGeek’s support in that journey makes Bitcoin usable for the world’s major enterprises.”
Mining Bitcoin Cash SV is Not Profitable
Going by this, it is clear that even though the Bitcoin Cash SV side has suffered some real loss, especially with it mining costing more and not as profitable as that of BCHABC, the coin is set to become the most used network in the future to come.