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Bitcoin SV Has Big Plans after Hash War Ends

ByBit
  • Anatol Antonovici
    📈 Price Predictions

    At the end of November, CoinGeek Mining announced that the hash war was over and that it would support a permanent split from the original Bitcoin Cash network

Bitcoin SV Has Big Plans after Hash War Ends
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

At the end of November, CoinGeek Mining, the entity that has been backing the Bitcoin Cash SV version, which is now commonly referred to as Bitcoin SV, announced that the hash war was over and that it would support a permanent split from the original Bitcoin Cash network. The same thing was voiced by Craig Wright, the mastermind of the hard fork. Let’s see what has changed since the end of the direct conflict between the two parties:

-    The price of Bitcoin SV, with the ticker BSV, has increased right after the November 26 announcement of the hash war end and has moved in a sideways since then. As of December 5, BSV is trading at $90.5.

-     BSV entered the top 10 cryptocurrencies by market cap according to Coinmarketcap data. Today, Bitcoin SV is in the ninth position with $1.57 billion market cap. Thus, we have three versions of Bitcoin in the top 10 largest coins – Bitcoin itself, Bitcoin Cash, and Bitcoin SV. However, Craig Wright, nicknamed “fake Satoshi” as he claims to be the real creator of the original Bitcoin, argues that BSV is, in fact, the true Bitcoin and that what we consider as the oldest coin has been actually changed by the Core team through the first SegWit network update.

-    Multiple cryptocurrency exchanges, including Kraken, Binance, Upbit, and Bithumb, are currently supporting BSV trading. Nonetheless, several exchange operators announced their support for the SV version before the hash war ended.

Despite being at its nascent stage, Bitcoin SV is already targeted by various projects. Thus, nChain, a Blockchain research and development firm, announced that it would develop its “Metanet” project to support and integrate the Internet via Bitcoin Blockchain. Metanet will be exclusively built on Bitcoin SV.

nChain crypto company

However, it’s still a closed circle as nChain was created by Craig Wright himself. He announced the project during the CoinGeek Week event in London, UK. Wright commented:

“What we are going to actually create is a secure alternative to the Internet, built on the Blockchain. The Internet becomes a sidechain to the Bitcoin Blockchain. The Metanet is a value network—the entire global system of online activity and data connected commercially.”

Metanet aims to integrate the Internet with the distributed ledger technology (DLT) so that digital content and data could be stored and shared securely through Blockchain transactions. The system will allow entities to adopt new methods to share web content and implement innovative e-commerce business models via BSV micro-transactions. Thus, companies would be able to generate almost real-time micro-payments for clicks and data.

Metanet aims to become the Internet 2.0 and revolutionize the global network we know as the Internet. Some of the network features will permit the following:

-          Authorization of access to data, Internet content, social media profiles in real-time while keeping the identity private.

-          Search, data, and content solutions that rely on micropayments by users instead of advertising models that we have today.

-          Integrate wallets for smooth user integration.

-          Supply chain management solutions.

Jimmy Nguyen, CEO of nChain Group, explained:

“The Metanet will initially enhance, then eventually drive the Internet, making Bitcoin SV the global public ledger that underpins all Internet activity. It is a mind-blowing concept with limitless possibilities based on the additional security, efficiency, and data integrity of the Blockchain, and is another part of Craig Wright's vision for unleashing Bitcoin's true power.”

It seems that BSV is doing great and has big ambitions. However, on the other side of the line, Roger Ver, one of the key figures backing the original Bitcoin Cash, has great hopes for the future of BCH and BTC despite the current bearish sentiment. He told Bloomberg that “long-term, the future is brighter than ever” for cryptocurrencies.

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About the author

Anatol is a passionate crypto writer that previously covered Forex topics for years. He realized the potential of blockchain technology at an early stage and redirected his focus right away

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Tezos (XTZ) Price Surges Six Percent Amidst Crypto Market Bloodshed

ByBit
  • Alex Dovbnya
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    Tezos (XTZ) shines as a lone green spot among a plethora of red coins

Tezos (XTZ) Price Surges Six Percent Amidst Crypto Market Bloodshed
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tezos (XTZ) remains the only green coin in the top 20 while the whole cryptocurrency market is experiencing a deep correction.

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Tezos Price Analysis — How Much Might XTZ Cost in 2019?

Tezos Price Analysis — How Much Might XTZ Cost in 2019?

At press time, XTZ is changing hands at $1.29 after surging by nearly 6 percent over the last 24 hours.

Tezos Price
image by coinstats.app

It's worth noting that Tezos is up by more that 12 percent against Bitcoin. The number one cryptocurrency dragged the rest of the market into a bloodbath after collapsing below the $7,600 level. 

Some altcoins took an even bigger hit. Stellar (XLM) and Tron (TRX) are down by nearly 10 percent.

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XTZ's resilience is stunning considering that the coin's price experienced a substantial price pump on Nov. 11. Prior to that, the altcoin surged by an eye-popping 70 percent on the Coinbase staking news

With that being said, Bitcoin might rain on XTZ's parade if it continues to slide. Otherwise, the Tezos price might be up for another push. 

 As of now, XTZ is the last man standing. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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