Why Blockchain?

Why blockchain & why BSV

Why Blockchain?

Over the past decade blockchains have risen from niche technology understood by only a few to now a mainstream global technology which Is rapidly changing almost every industry.

A blockchain is a distributed ledger, an online database shared among the nodes of a computer network, where a wide range of data can be stored. There are many different blockchains and many uses, most people are now familiar with cryptocurrencies such as Bitcoin and Ethereum, or NFTs (Non-Fungible Tokens) such as Bored Apes and Crypto Punks, the underlying technology is blockchain but blockchains are capable of so much more.

Here at Satoshi Block Dojo our blockchain of choice is BSV.

Why BSV?

BSV, also known as Bitcoin SV and Bitcoin Satoshi Vision, is a biologically inspired network called a ‘mandala network’. BSV is the original version of Bitcoin and follows the original Bitcoin white paper by Satoshi Nakamoto.

Here are some of the advantages of Bitcoin SV: 

Environmentally Friendly

Extremely powerful network and currently the most eco-friendly blockchain

Data Carrier

Carries huge amounts of rich data including fiat money data, audio, image, video, game and social media data

Algorithms

Can code all kinds of programs and AI algorithms, search algorithms, and big data from corporates and enterprise. BSV supports Javascript, Python, C++ and sCrypt

Speed

Extremely fast with no latency, transactions clear instantly

Low Cost

Extremely low transaction costs at $0.0001 per transaction

Stability

The BSV protocol is set in stone forever

Scalability

Capable of over 1 million transactions per second

Flexibility

Supports CBDCs (Central Bank Digital Currencies, i.e. fiat money data)

Micropayments

Facilitates micropayments and nano-payments thus opening the door to creating new industries

Immutable

Provides an immutable record of all transactions, including smart contracts

Regulation Friendly

Fully regulated and more secure than any other conventional payment system

Original

Satoshi Nakamoto's original vision for Bitcoin