Bitcoin SV is Set to Start Processing 1 TB Blocks by 2020
Anyone conversant with the happenings in the crypto industry doesn’t need to be told about the recent Bitcoin Cash hard fork that shook the entire crypto industry and has been pinpointed as the principal cause of the prolonged bear market. The BCH hard fork led to the creation of two new consensus— Bitcoin SV and Bitcoin ABC. Based on a recent report, Craig Wright (the man behind the creation of the Bitcoin SV) has recently made it known that the network is expected to start processing up to about 1 TB blocks in about two years.
So Far Bitcoin ABC is Winning
The resulting effect of the harsh war which saw BCH splitting into two has seen one of the newly formed networks taking a lead. The Bitcoin ABC has led its competing chain in some key metrics such as block size and token price.
Bitcoin SV which has been taunted has the original bitcoin network just like Satoshi Nakamoto intended (the creator of bitcoin) by Craig Wright and his team, has the smallest block of the three Bitcoin versions.
In light of this, Craig Wright and his team made it known that: “the network is better off without getting lumped up in extra layers of off-chain scaling solutions. As a result of this, BSV will be expanded to increase its storage space and block size to accommodate more nodes.”
Bitcoin SV Has Plans to Increase Trading Volume
Recently Craig tweeted that: “BSV is keeping a two-year target to achieve up to 4 million TPS and build a Terranode network.” Right from its inception, the BSV camp has been making plans targeted at increasing the network’s block space. It has been established that Joining BSV low transaction fee with more than enough block space will trigger the interests of more network participants.
This is why Craig’s has announced plans to forge partnerships with top institutions and government bodies. Once they come aboard the network, the network’s transaction volume receives a massive boost.