Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV: three different crypto assets that are often confused. In this article, we’ll simply explain the main differences between BTC, BCH, and BSV, while highlighting the unique characteristics of each along the way.
Bitcoin (BTC) was the original crypto asset initiated by its pseudonymous creator Satoshi Nakamoto in 2009. However, BTC is not the same as Bitcoin Cash (BCH), or Bitcoin SV (BSV), despite the shared part of their names.
BCH actually launched as a so-called hard fork from Bitcoin. A hard fork is essentially a split of the blockchain performed by a certain group within a crypto community. In this case, the founders of Bitcoin Cash (BCH) had concerns about the scalability of the original Bitcoin network, thus they decided to start their own version of it.
A similar hard fork happened to Bitcoin Cash (BCH) later on, resulting in Bitcoin SV (BSV). BSV stands for Bitcoin Satoshi’s Vision, as the founders of the asset argued that none of the prior Bitcoin versions actually fulfilled the original intent of Satoshi Nakamoto. That is, Bitcoin being a versatile ecosystem with smart contracts and countless functionalities, which Bitcoin SV actually offers.
The best way to tell these three apart is to always use their three-character tickers—BTC, BCH, and BSV—after their names. By doing so, one can avoid any confusion about which Bitcoin is referenced.
Bitcoin (BTC) is the first and original crypto asset among all others. It was created based on the Bitcoin Whitepaper published by Satoshi Nakamoto in 2008. Bitcoin (BTC) introduced many novelties to the world, such as Proof-of-Work (PoW) consensus and BTC mining, as well as a fully decentralized peer-to-peer network capable of operating globally.
Bitcoin Cash (BCH) was forked in 2017 from Bitcoin (BTC) with the purpose of improving efficiency. The idea behind BCH was to keep the basic mechanism of Bitcoin (BTC), but lower fees and make transactions faster. This was essentially achieved by increasing the original block size, which is a simple technical solution, resulting in both of the above criteria being fulfilled.
Bitcoin SV (Satoshi’s Vision) is the youngest of the three, as it was forked from Bitcoin Cash (BCH) in 2018. BSV introduces features that are not found in the other two Bitcoin systems mentioned above, such as an even greater block size for more speed, smart contracts, Non-Fungible Token (NFT) capabilities, and increased versatility overall.
Now you know all there is to grasp about the difference between Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin SV (BSV). While all three are different, they also share some attributes, such as their decentralized nature and core concept of a global peer-to-peer network. In any case, and whichever appeals to you the most, one thing is certain: BTC, BCH, and BSV should not be confused with one another. If you’d like to secure yourself either of these crypto assets, visit rain.bh, and start your crypto journey today.
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