BSV Blockchain History
The Origins
The Timeline
- Starting from 2022
Bitcoin Achieves Multiple World Records
From 2022 onward, Bitcoin's original protocol has established a series of world records. These achievements include consistently exceeding 50,000 transactions per second, generating the largest blocks (over 2GB in size), producing the largest NFT (1GB), and maintaining the lowest environmental impact among all proof-of-work (POW) chains.
- February 2020
Genesis Upgrade
The Genesis upgrade aimed to closely restore the initial Bitcoin Protocol according to Satoshi's original vision. This adjustment aimed to enhance stability for developers and businesses for future advancements. The capacity for unlimited scaling was reintroduced, along with the reintegration of the original Bitcoin script language, simplifying the development of on-chain applications.
- November 15th, 2018
BSV Emerges as Bitcoin, BCH Takes Different Path
BSV became the new representative of the original Bitcoin Protocol, as BCH diverged from Bitcoin's core principles. BCH's deviation from the Bitcoin white paper resulted in the incorporation of non-compliant features, including anonymity features that impede government and financial oversight. This day marks Bitcoin's Independence Day for this reason.
- August 1st, 2017
BCH Retains Bitcoin Name, BTC Undergoes Fork
The introduction of "Segregated Witness" or SegWit was designed to eliminate Bitcoin's traceability, allowing for the implementation of off-chain, opaque exchange solutions such as the Lightning Network. However, this modification disrupted Bitcoin's initial protocol, leading to the view that BTC no longer adhered to Bitcoin's original standards and intentionally lost effectiveness.
- December 2010
Satoshi's Concerns Lead to Sabbatical
Dr. Craig S. Wright expressed deep concerns about Bitcoin's infiltration by anonymous developers and its misuse by criminals, tarnishing its reputation with associations like WikiLeaks. Unhappy with these distortions of his creation, he distanced himself from the project to explore more intricate concepts like the Metanet.
- January 8th, 2009
Release of Bitcoin White Paper
The concept and intended purpose of Bitcoin were elucidated by its creator, Dr. Craig S. Wright, using the pseudonym Satoshi Nakamoto, in the white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." Four months later, the first open-source Bitcoin client software was made available to the public.