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Bitcoin has always been one of the most watched crypto assets in the field of cryptocurrency. Everyone is not only paying attention to the market trend of Bitcoin but also paying attention to other trends of Bitcoin. Bitcoin hard fork is a focus of everyone's attention. It is currently the most concerned. The Bitcoin hard fork token is BSV coin. It is a high-profile hard fork conducted by BCH. It is also the first computing power war in the history of cryptocurrency. Therefore, the birth of BSV coin has attracted much attention. It is often said that BSV Many people may not know what the Chinese name of BSV coin is? Some people are also worried that such a forked currency BSV coin will be a scam? According to the current information, the Chinese name is Bitcoin SV, which is not a scam. The editor of the currency circle will tell you in detail below.

 What is the Chinese name of BSV coin?

The Chinese name of BSV coin is Bitcoin SV. BSV is a cryptocurrency based on blockchain technology. It is a hard-core product of Bitcoin Cash (BCH). Its full name is Bitcoin.
SV stands for Bitcoin Satoshi Vision. The goal of BSV is to restore and maintain the original Bitcoin protocol as described in the Bitcoin white paper released by Bitcoin founder Satoshi Nakamoto in 2008, and to achieve greater scalability and performance.

Bitcoin SV aims to have a fixed protocol structure to provide the stability that potential investors and enterprise-level applications tend to seek. The Bitcoin SV protocol aims to be highly scalable and regulatory-friendly to win mainstream confidence and eventual adoption by global enterprises.

Despite these laudable goals, it remains to be seen whether the project can maintain long-term viability. On the one hand, large blocks are faster, although they sacrifice decentralization because fewer full nodes are able to store the entire blockchain history due to increased memory requirements.

 Is BSV coin a scam?

At present, BSV coin is not a scam. BSV is a hard fork network based on the Bitcoin Cash network. At present, the network still maintains good daily trading activity. At the same time, progress in enterprise-level applications is also advancing, and it is still moving towards Develop to become a global payment system.

Unlike other BTC hard fork networks, BSV’s development roadmap is dedicated to restoring the network to the original functionality and stability of the Bitcoin protocol and undergoing massive expansion.

In terms of network operation, like BTC, BSV still uses POW workload proof. The total number of BSV tokens is 21 million, and the block reward is halved every four years. The initial block size of the BSV network was 128MB, followed by a Quasar protocol upgrade in July 2019, which expanded the block size to 2GB and allowed block size adjustments determined by the network consensus mechanism. That is, miners can adjust the size of the blocks they wish to mine. This change is intended to enable the BSV network to process more transactions in a single block, generating more transaction fees to offset the reduced block rewards.

All the above content is the answer to the two questions of what is the Chinese name of BSV coin and whether BSV coin is a scam? As a product of the development process of the cryptocurrency world, BSV has a history of 5 years as of 2017 and has a lot of network experience. Iteration updates. Although it chooses to use block size as the expansion route, its network processing capabilities are much higher than those of BTC and BCH, making it possible for BSV to be used in enterprise-level scenarios as a global payment system in the future. In short, BSV has a close relationship with Bitcoin, but it also has its own characteristics and advantages, which are worthy of investors' attention.