Bitcoin Satoshi Vision
Bitcoin Satoshi Vision (BitcoinSV) was created to maintain the integrity of the Bitcoin public ledger by reverting back to the original Bitcoin protocol with a view to keeping it stable and secure, and allowing it to scale massively to accommodate global demand for open public ledger technology.
BitcoinSV will maintain the vision set out by Satoshi Nakamoto’s visionary 2008 white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System which includes:
- Scaling to accomodate global demand through network architecture and software allowing for big blocks to be mined
- Allowing a distributed small world network to form at the center of a Mandala network connecting billions of people through their devices
- Elevating miners into their role as service provider
- Generating on-chain economic activity sufficient to allow transaction fees to supplant block subsidies as the funding mechanism
- To drive a culture of using transaction fees to price services
- Using economic incentives to build network security
- Allowing the Bitcoin network to become a global infrastructure platform for financial and informatic exchange processes
Past Ledger Duplications
The Bitcoin ledger has twice been duplicated by malicious miners to implement features that destroy the integrity of the ledger. The first duplication took place on August 1st, 2017 when BTC miners chose the ledger was moved from the BTC network onto the newly created Bitcoin Cash (BCH) network. The ledger was duplicated giving all BTC users an airdrop of coins on the BTC network just prior to the BTC protocol having the irreversible Segregated Witness (SegWit) change applied.
Miners chose to migrate the ledger a second time on November 15th 2018, transferring it from the Bitcoin Cash network onto the BitcoinSV network to protect it from the introduction of malicious changes. These included the addition of opcodes that would potentially anonymise illegal activity (OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY) and enforced canonical transaction ordering in blocks (CTOR).
The BitcoinSV network is operated by miners who understand that the future of Bitcoin is through massive global scaling and who have begun works to build new infrastructure and software to improve the transactional capacity of the network.
Bitcoin V0.1 and the return to Genesis
Since the creation of the BitcoinSV network, Bitcoin has undergone a series of upgrades which have each removed selected limits that have impact the network's throughput or re-enable features that had previously been disabled or even removed.
In February 2020, the BitcoinSV network underwent the Genesis upgrade, which removed all remaining limitations on the Bitcoin protocol in favour of miner-configurable setting allowing boundaries to be determined by economics and technical capability. Removed consensus rules included limits on transaction size, script size, multi-signature usage, block size and more. The full list of changes is available here.
The BitcoinSV network is the highest performing public ledger network in the world.