The BSV blockchain has experienced significant growth and developments in 2023, marking it as a noteworthy year for the cryptocurrency. One of the most significant achievements is the massive appreciation of the BSV token price. The rise in value has attracted new miners to dedicate their hash power to the BSV blockchain, increasing its security and decentralization.
Another noteworthy development is the proliferation of Ordinals on the BSV blockchain. Ordinals are fungible tokens with free and fair mints, and they have garnered attention and dominance in the headlines. Comparing the number of Ordinals on the BSV blockchain to other blockchains like BTC, the BSV blockchain boasts an impressive 2.5 billion Ordinals as opposed to BTC’s 55 million.
The reason behind the abundance of Ordinals on the BSV blockchain lies in its low cost to mint tokens. Tokens like OJBK, with 210 billion available, can only be minted one at a time, ensuring a continuous increase in the number of Ordinals as time goes on.
The growth of the BSV blockchain has also led to changes in its mining landscape. Within a week of the price appreciation, TAAL is no longer the majority miner on the BSV blockchain. New miners have recognized the potential profitability and security of the BSV blockchain, leading to a more distributed network.
In a recent discussion, Hector Lopez, CEO of Instasize, emphasized the importance of preserving the integrity and originality of open-source software. He noted that fundamental changes cannot be made to open-source software while still retaining its original identity. Just as you cannot make massive changes to Python and call it Python, altering the Bitcoin protocol would undermine its decentralized nature.
Speculation has also been sparked regarding the possibility of the BlackRock Bitcoin ETF being switched to the BSV blockchain. ‘Craig was Wright’ speculates that if one recognizes the superiority of the BSV blockchain, accumulating BSV tokens at a lower price would be a smart move. While this remains speculation, it is evident that the BlackRock ETF application has highlighted Dr. Wright and the ongoing COPA v Wright case.
Despite the legal battles surrounding BSV blockchain and Dr. Wright, it is challenging to make definitive statements about the outcome. Court cases often reveal surprises, and the strategy pursued by Dr. Wright’s team remains unknown. Nevertheless, the growth and developments in the BSV blockchain make it an exciting space to watch in the coming year.
To learn more about the latest developments in the BSV blockchain, including insights into the fees on RockWallet and how to purchase BSV and Ordinals, follow the provided link.
The source of the article is from the blog aovotice.cz