The Bitcoin Association, which promotes Bitcoin SV, says the BSV network now rivals credit card processor VISA in terms of transactions per second. It as well claims BSV transaction processors (miners) receive "better returns" than on BTC.

In its first annual report, the Bitcoin Clan (BA) said the Bitcoin SV scaling exam network had "consistently sustained 1,300 transactions per 2d for a prolonged menses, in addition to handling a acme load of six,400 transactions per second"

"To put the transaction capacity in perspective, the VISA network, which has long been viewed as the aureate-standard for payment processors, handles an average of 1,700 transactions per second."

It said the examination network has processed blocks of about 2GB in size, containing 7.877 one thousand thousand transactions.

Bitcoin SV and Bitcoin Cash emerged out of the scaling debate over Bitcoin — which centered around claims the BTC network'due south inability to process more than a handful of transactions per 2nd meant it could not reach mainstream adoption. BCH and BSV both pursued bigger block sizes as a way to scale.

First almanac report

The annual report covers the period February 2022 to Feb 2022 and makes some bold claims, including that Bitcoin SV offers meliorate transaction fee returns for miners than its rivals:

"Bitcoin SV is emerging equally the most profitable Bitcoin network for transaction processors (miners) to be working on, offering better returns than BTC on the majority of days from September 2022 to February 2022."

However, Messari put Bitcoin SV'due south transaction fees over the past 24 hours at just $255 while Bitcoin raked in $214,199 in transaction fees. It'southward unclear in the written report how BA arrived at its conclusion on fees.

The written report cites information showing transactions grew to almost 600,000 a 24-hour interval by Feb, which was considerably college than BTC. Critics however accept argued much of the transaction volume on BSV is 'busy piece of work' from apps writing weather or crypto price data to the blockchain.

The report said the boilerplate block size in February was 2MB, which is double the i.05MB size for BTC and twenty times that of BCH's 0.10. Each BSV block candy an average of 4127 transactions.

The Association at present has 1200 members, including more 300 "Applications or Services" and more than 100 Developers. The top v countries for members are China, USA, United kingdom of great britain and northern ireland, Canada and Australia.

There are around 400 "known ventures and projects " being built on BSV, and 250 companies and services and said to support the blockchain

The study also notes:

  • Coinstorage CEO Brendan Lee was hired to develop a formal Bitcoin SV training curriculum for release this yr.

  • The clan and developers nChain have fabricated a "major investment" in the Bitcoin SV Wiki, which is both a developer resources and a way to "combat the misinformation surrounding Bitcoin that is online and in media". The introduction starts off by challenge: "Bitcoin is a peer to peer electronic cash system created by Dr. Craig Wright under the pseudonym Satoshi Nakamoto."

  • Association president Jimmy Nguyen met with "representatives of U.Due south. government agencies and lawmakers." in Washington DC to hash out how to "build a more lawful and regulation-friendly business ecosystem, while also encouraging and facilitating innovation in both digital currency and blockchain technologies." Nguyen and nChain Principal Scientist Wright have provided commentary to draft legislation nearly digital currencies.

  • BSV 'DevCon' events planned for San Francisco and Shanghai this year are on hold due to the pandemic.

  • The Association has hired a full time PR professional to secure media coverage.

  • The major aims for 2022 are to "position Bitcoin SV as 'the' blockchain for business concern" and to further develop the Bitcoin SV ecosystem.

Bitcoin SV was created in a controversial hard fork in Nov 2022, after the project carve up from Bitcoin Cash. Led by Wright, who controversially claims to have invented Bitcoin, the project has a relatively modest but devoted community.

BA president Jimmy Nguyen, who was recently subpeonened via Twitter in the Craig Wright/Ira Kleiman court case, wrote in his introduction information technology had "been a big twelvemonth for the original Bitcoin".

"As excitement for the "Satoshi Vision" has rapidly grown, our Association has expanded its remit - and the global team required to back up that - as we accelerate our efforts to increase the adoption of Bitcoin SV."

The annual study ended with a give thanks you to BSV's billionaire benefactor Calvin Ayre for bankrolling the entire operation. "We could non do our work without Calvin'south support and his conventionalities in Bitcoin Satoshi Vision," information technology said.