Are BCH & BSV Becoming More Alike?
It has been nearly a year since Bitcoin Cash's notorious hard fork, in which it split into 2 chains Bitcoin Cash (BCH) and Bitcoin SV (BSV). One of the key reasons for the split was a disagreement regarding block size and scalability. Bitcoin SV figurehead Craig Wright has planned "Terra blocks" since 2018, while Bitcoin Cash preferred a smaller and adjustable block size.
Bitcoin Cash is currently the 4th largest cryptocurrency by market cap and Bitcoin SV is a bit behind it at #9. Since the fork Bitcoin Cash and Bitcoin SV communities have been fierce rivals.
Roger Ver, the figurehead associated with Bitcoin Cash has recently unveiled Bitcoin Cash's 2020 roadmap.
Bitcoin Cash's 2020 plans
It seems that Bitcoin Cash fans have a lot to expect in 2020, with many new improvements and upgrades. This includes Merklix-Metadata Tree, which will allow scalable block processing, a new transaction format, fractional Satoshi's and an adaptive block size of up to 1 TB.
“I "seriously" believe we can reach 1 GB. In fact, I know we can reach 25 GB blocks and verify those blocks on low-cost hardware.” - @PeterRizun Chief Scientist of Bitcoin Unlimited.— Roger Ver (@rogerkver) November 9, 2019
BCH is on its way to 1 TB blocks per the roadmap: pic.twitter.com/tU9OqEdBaG
It is important to note that Bitcoin Cash's blocks are adjustable and depend on the blockchain's stress. More congestion would increase the block size with a maximum cap of 1TB.
Bitcoin Cash - Bitcoin SV Showdown
At some point in the future we will likely see blockchain congestion like we did back in 2017. Until then all claims of scalability are moot. In a situation like that, the Lightening network will be put to the stress test and even more interestingly enough so will both Bitcoin Cash & Bitcoin SV.
The battle of the "big blockers" will be an interesting one to watch. One can only hope the Craig Wright's many legal cases get settled one way or the other by then.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado