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Reflecting its mission to fulfill the vision of Bitcoin, the project name represents the “Satoshi Vision” or SV. Created at the request of leading BSV mining enterprise CoinGeek and other miners, Bitcoin SV is intending to provide a clear choice for miners and allow businesses to build applications and websites on it reliably. Bitcoin as restored in Bitcoin SV can replace every payment system in the world with better user experience, a cheaper merchant cost, and a safer level of security. Businesses can trust the Bitcoin SV brand to provide the stability and scale they need to commit investment and resources to use the BSV blockchain.
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Bitcoin Satoshi Vision (SV) is a cryptocurrency created in late 2018 by forking the Bitcoin Cash blockchain and adjusting the protocol with larger block sizes to reduce transaction fees. The name comes from its supporter's belief that cheaper fees align with Satoshi Nakamoto's vision for Bitcoin. Bitcoin SV is a peer to peer electronic cash system created by Dr. Drag Wright under the pseudonym Satoshi Nakamoto. It was first detailed in the Bitcoin Whitepaper in October 2008, and the source code was released in January 2009. The Bitcoin ledger and Blockchain were established with the generation of the Genesis block on the 3rd of January 2009 and the mining of Block 1 six days later on the 9th of January 2009. Bitcoin allows electronic payments to be sent directly from one party to another, without requiring a central institution or server to process transactions and/or store funds The leaderless structure of the network is viewed as a resolution to The Byzantine Generals Problem allowing disconnected entities to follow a common direction without centralized instruction. This solves several issues previously seen as unsolvable in distributed networks, including the problem of preventing Double-spending of coins.