Transactional volume on the network is becoming more dependent on whales as Kevin Rookie of The Spring reports that 86.4 percent of BSV volume comes from the top 100 transactions, June 24, 2019.
Brakes Locked on BSV
The current BSV network appears to be overly dependent on whale activity after details regarding network saturation came to light.
BSV forked off the BCH chain after disagreements over transaction ordering and the proposal of implementing Avalanche on as a part of on chain consensus.
86.4% of all Bitcoin SV volume yesterday came from 100 transactions. The BSV network is a total ghost town.
Despite that, network value is now $4.5 billion, up 300% in the last 45 days.
Totally insane. pic.twitter.com/5xS2qvNsJc
— Kevin Rooke (@kerooke) June 23, 2019
BSV’s goal is to create the infrastructure needed to bring digital currency to corporations. While Bitcoin’s original motive was to create a more inclusive financial system where economic side effects don’t erode purchasing power, BSV is the corporate coin that wants to be regulated.
Many staunch advocates of decentralization moved from BCH to BSV citing BCH’s automatic checkpoints as a vital factor, but the rest couldn’t deal with the unavoidable dominance that nChain would have over the network.