{"id":115040,"date":"2021-03-02T10:12:37","date_gmt":"2021-03-02T10:12:37","guid":{"rendered":"https:\/\/precoinnews.com\/?p=115040"},"modified":"2021-03-02T10:12:37","modified_gmt":"2021-03-02T10:12:37","slug":"btc-bch-and-bsv-how-they-fared-in-2020","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/btc-bch-and-bsv-how-they-fared-in-2020\/","title":{"rendered":"BTC, BCH and BSV: How They Fared in 2020"},"content":{"rendered":"

With the burgeoning cryptocurrency market, there is a lot investors have to study before they choose which one to put their hard-earned money into. Bitcoin being a pioneer in cryptocurrency is a popular choice. However, there are three Bitcoin factions in the market today. Businesses and individual investors need to know about these three and how they fared during the pandemic in order to make a smart decision.<\/p>\n

How Bitcoin Split into Three<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

<\/strong><\/p>\n

In 2017, the Bitcoin community split over scaling and protocol issues, and Bitcoin Core (BTC) and Bitcoin Cash (BCH) were formed, with BCH on the side of pushing through with Dr. Wright\u2019s vision. But the BCH alliance did not last long, and it soon split again because Bitcoin ABC proponents wanted to stop scaling and change the original Bitcoin protocol to create an anonymous network wherein transactions cannot be traced by authorities. On November 15, 2018, Bitcoin SV (BSV) was born.<\/p>\n

BTC vs. BCH vs. BSV<\/strong><\/p>\n

BTC, with its maximum of 2MB block size, is still the top cryptocurrency with the highest trading price. BTC can be viewed as a digital asset similar to gold\u2014you buy it, keep it and sell it again when the value has gone up. However, the question is, until when will it maintain its high price when its technology, due to its tiny block size, has no other use? BCH is worse. With its block size of 32MB, it only completed less than an eighth of the transactions BTC processed, according to a 2020 report for the period of January 1 – July 24, 2020. This is mainly due to the fact that it has gained a reputation for suspicious activities, and rightfully so.<\/p>\n

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 <\/td>\n\u00a0BTC<\/strong><\/td>\n\u00a0BCH<\/strong><\/td>\n\u00a0BSV<\/strong><\/td>\n<\/tr>\n\n\u00a0Market Cap*<\/strong><\/td>\n\u00a0176 Billion (1st)<\/td>\n\u00a04.4 Billion (5th)<\/td>\n\u00a03.4 Billion (7th)<\/td>\n<\/tr>\n\n\u00a0Price*<\/strong><\/td>\n\u00a0$9,559<\/td>\n\u00a0$236<\/td>\n\u00a0$183<\/td>\n<\/tr>\n\n\u00a0Hashing function<\/strong><\/td>\n\u00a0SHA-256<\/td>\n\u00a0SHA-256<\/td>\n\u00a0SHA-256<\/td>\n<\/tr>\n\n\u00a0Total Supply<\/strong><\/td>\n\u00a021 million cap<\/td>\n\u00a021 million cap<\/td>\n\u00a021 million cap<\/td>\n<\/tr>\n\n\u00a0Max block size limit<\/strong><\/td>\n\u00a01 megabyte<\/td>\n\u00a032 megabytes<\/td>\n\u00a0Unlimited<\/td>\n<\/tr>\n\n\u00a0Max Tx\/per block<\/strong><\/td>\n\u00a02000 tx<\/td>\n\u00a0166,000 tx<\/td>\n\u00a0Unlimited tx<\/td>\n<\/tr>\n\n\u00a0Max Tx\/second<\/strong><\/td>\n\u00a07<\/td>\n\u00a0160<\/td>\n\u00a010000+<\/td>\n<\/tr>\n\n\u00a0OP_RETURN data capacity<\/strong><\/td>\n\u00a00.08 KB
\n(80 bytes)<\/td>\n\u00a00.22 KB
\n(222 bytes)<\/td>\n\u00a0100KB
\n(100000 bytes)<\/td>\n<\/tr>\n\n\u00a0Instant transactions
\n(zero confirmation)<\/strong><\/td>\n\u00a0No, due to RBF
\n(Replace By Fee)<\/td>\n\u00a0Yes<\/td>\n\u00a0Yes<\/td>\n<\/tr>\n\n\u00a0Total transactions in 2020*<\/strong><\/td>\n\u00a062 Million
\n(62,455,497)<\/td>\n\u00a07 Million
\n(7,426,837)<\/td>\n\u00a0129 Million
\n(129,873,038)<\/td>\n<\/tr>\n\n\u00a0Average daily transactions in 2020*<\/strong><\/td>\n\u00a0306,154<\/td>\n\u00a036,406<\/td>\n\u00a0636,632<\/td>\n<\/tr>\n\n\u00a0Average daily transaction fee*<\/strong><\/td>\n\u00a01.43 USD
\n(0.00106229)<\/td>\n\u00a00.024 USD
\n(0.00010179)<\/td>\n\u00a00.002 USD
\n(0.00001528)<\/td>\n<\/tr>\n\n\u00a0Largest block generated in 2020*<\/strong><\/td>\n\u00a02 megabytes<\/td>\n\u00a03 megabytes<\/td>\n\u00a0369 megabytes<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(Source:\u00a0<\/em>Blockchair)<\/em><\/p>\n

Bitcoin SV processed 129 million transactions\u2014more than double BTC\u2019s number, and only at 0.002 USD per transaction compared to BTC\u2019s 1.43 USD. This is because Bitcoin SV, with SV standing for Satoshi Vision, seeks to restore the original Bitcoin protocol and massively scale its blockchain.<\/p>\n

Bitcoin SV released the Genesis Upgrade in February 2020, which successfully restored the original Bitcoin protocol and unlocked limitless scalability. This means that the Bitcoin SV blockchain can now handle an unlimited amount of data and its protocol is stable and fixed, much like the Internet protocol. More than 400 businesses have decided to work with Bitcoin SV, and the number is constantly growing.<\/p>\n