{"id":142276,"date":"2021-10-20T09:09:24","date_gmt":"2021-10-20T09:09:24","guid":{"rendered":"https:\/\/precoinnews.com\/?p=142276"},"modified":"2021-10-20T09:09:24","modified_gmt":"2021-10-20T09:09:24","slug":"bsv-vs-other-blockchains-why-should-developers-and-businesses-utilize-bitcoin-sv","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bsv-vs-other-blockchains-why-should-developers-and-businesses-utilize-bitcoin-sv\/","title":{"rendered":"BSV vs. other blockchains: Why should developers and businesses utilize Bitcoin SV?"},"content":{"rendered":"

Developers and businesses should use Bitcoin SV, the BSV blockchain, instead of all other blockchains. But why?<\/p>\n

On the first day of the CoinGeek conference in New York, an expert panel moderated by\u00a0Kurt Wuckert Jr.\u00a0has answered that question in a discussion titled, \u201cBSV vs. Other Blockchains: Differences that Matter for Developers & Businesses.\u201d The panelists include Peter Bainbridge-Clayton, founder & CTO of kompany; Kevin Healy, independent app developer and investor; and Rohan Sharan, product manager of BlockReview.<\/p>\n

Wuckert started the panel by pointing out that many developers in the blockchain space tried to build their projects on Ethereum. However, since Ethereum does not scale the way developers need a blockchain to scale, some developers have left Ethereum to work on the BSV blockchain instead.\u00a0<\/p>\n

\u201cA lot of people\u2014especially in business\u2014talk about the need for the blockchain solution, but not necessarily with a currency tied to it, the token economics (…). They want the blockchain technology, but not the coin,\u201d Wuckert Jr. said.<\/p>\n

Sharan stated that without the coin there is no value in a blockchain. If one removes the coin aspect from the blockchain, what is left are linked hashes, which are only data structures according to Sharan. So for him, the economic model of Bitcoin definitely needs to stay in order for the blockchain to thrive.<\/p>\n

One example of the \u201cblockchain without economy\u201d approach is Hyperledger, which Bainbridge-Clayton has worked with in the past. But as of today, Bainbridge-Clayton started to move away from Hyperledger to work on the BSV blockchain instead.<\/p>\n

\u201cWith a public chain you have to incentivize the public, otherwise it is not a public chain,\u201d Bainbridge-Clayton said in accordance with Sharan. Furthermore, Bainbridge-Clayton points out that the business mind is different from the developer mind. While businesses have to fulfill certain business requirements, the developer is tasked with actually doing the fulfillment.\u00a0<\/p>\n

Healy has been active in the Ethereum community for a long time and recently published a surprising video in which he identified\u00a0Dr. Craig Wright as Satoshi Nakamoto. CoinGeek also did an\u00a0interview with Healy\u00a0on the three phases of Dr. Wright went through being the inventor of Bitcoin.<\/p>\n

Coming from Ethereum, Healy is nowadays working with the BSV blockchain instead and explained his shift from ETH to BSV on the panel:<\/p>\n

\u201cThe stable protocol. If I am going to build something that I want to be durable and long-lasting, I don\u2019t want the protocol to be changed all the time (…) and the low transaction fees. So we can do micropayments and that sort of thing.\u201d<\/p>\n

There are still reservations about the BSV blockchain coming from developers who build on other blockchains at the moment. Wuckert has had his own experiences with that and reports about it on the panel.<\/p>\n

\u201cI had a dinner about two weeks ago where I was talking to people who developed on other blockchains. They didn\u2019t know who I was, so when they came to me and asked what do you do, I started talking about BSV and hundred thousands transactions per second (…). All of a sudden the group\u2014everyone independently\u2014wanted to argue with me that it is impossible, it is not how these things work,\u201d Wuckert said.\u00a0<\/p>\n

The panelists discussed how to inform other developers better about Bitcoin SV\u2019s unique capabilities. Sharan believes that it would be helpful to use the word time chain more often, as blockchain itself is about time and Bitcoin actually can be described as a timestamp server. Interestingly, Dr. Craig Wright\u2019s keynote speech at the CoinGeek Conference in New York on the same day had the topic\u00a0time as a personal experience.<\/p>\n

Sharan also talked about the crucial difference between proof-of-stake and proof-of-work blockchains. For him, it is clear that proof-of-work is a free market-driven force that incentivizes users, developers and businesses, while proof-of-stake ends up in oligarchies.<\/p>\n

Bainbridge-Clayton said the BSV blockchain has to attract developers through other sources that build the Bitcoin SV ecosystem. Healy stated that some developers within BSV are quite happy to be early on the Bitcoin SV blockchain and therefore not too eager to invite the competition. However, Healy thinks BSV is on the right track already and does not need to persuade the wrong kind of people that are short-minded to join the ecosystem at the moment.\u00a0<\/p>\n

What the panel discussed is in accordance with the statements from famous economist and writer George Gilder, who gave a\u00a0keynote speech\u00a0at the CoinGeek Conference in New York the day after the panel.<\/p>\n

\u201cBitcoin SV now has more transactions and more activity than BTC (…) What makes Satoshi\u2019s blockchain so superior to all the others is: it has blasted away the limits!\u201d Gilder said and called BSV the epitome of the information economy.\u00a0<\/p>\n

Watch CoinGeek New York 2021 Day 1 here:<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Developers and businesses should use Bitcoin SV,<\/p>\n","protected":false},"author":3,"featured_media":142275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBSV vs. other blockchains: Why should developers and businesses utilize Bitcoin SV? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bsv-vs-other-blockchains-why-should-developers-and-businesses-utilize-bitcoin-sv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BSV vs. other blockchains: Why should developers and businesses utilize Bitcoin SV? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Developers and businesses should use Bitcoin SV,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bsv-vs-other-blockchains-why-should-developers-and-businesses-utilize-bitcoin-sv\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-20T09:09:24+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/BSV-vs.-other-blockchains-Why-should-developers-and-businesses-utilize-Bitcoin-SV-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bsv-vs-other-blockchains-why-should-developers-and-businesses-utilize-bitcoin-sv\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bsv-vs-other-blockchains-why-should-developers-and-businesses-utilize-bitcoin-sv\/\",\"name\":\"BSV vs. other blockchains: Why should developers and businesses utilize Bitcoin SV? 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