What does Bitcoin ZB (Bitcoin BSV) mean

What does Bitcoin ZB mean? Bitcoin ZB is a blockchain network consisting of members from the cryptocurrency community, using the English letter Z.

On the official Bitcoin forum, you can find some articles about “Bitcoin” and other related topics. Among them, a popular statement is that Bitcoin is a decentralized electronic cash system. However, Bitcoin is not anonymously issued like traditional paper currency. It is an application and payment method built on the internet protocol, also known as the Bitcoin scam (BitcoinCr closed source code). Therefore, Bitcoin CB is a groundbreaking, completely decentralized network platform that can provide various services, including transactions and lending.

Bitcoin BSV

Editor’s note: This article is from Caiyun Blockchain (ID: cybtc_com), authorized for reposting by Odaily Star Planet Daily.

The fork of the Bitcoin network is BitcoinSV, which is a new cryptocurrency. In the past few weeks, the BSV protocol has undergone multiple upgrades and introduced new features. The most notable aspect is that its adoption rate has been steadily increasing, growing by over 100% since July 2016.

Despite these improvements and enhancements, it also brings some issues. For example, what would happen if miners choose not to use existing network resources to store their mining block rewards?

For many developers, this is a good idea because they believe that this consensus algorithm can help solve some of the problems encountered in the current Bitcoin Cash network while maintaining full synchronization or complementarity with Bitcoin Core. Therefore, they started considering how to integrate this system into their nodes to reduce support for miners. However, since there is currently no clear solution, this proposal has not gained the agreement of the majority. To address this concern, the community recently proposed a new tokenomic model called “bitcoinSV” (i.e., so-called hard currency). In the white paper of Bitcoin published at the end of 2017, it was described as “we are researching hash-based technology.” However, the current situation is different. During the last bull market in 2018, Bsv’s transaction fees exceeded $1 at one point. Although many different competitors have joined this expansion plan. For example, Renrenbit announced that it will conduct its first Lightning loan in the first quarter of 2020, and the Bitcoin Cash Foundation stated that it intends to restart in the fourth quarter of this year. Adam Back, CEO of Blockstream, the company behind the Bitcoin Cash project, explained, “We will soon release a more extensive functionality to make BCH and other major PoS chains compatible with EVM.” He also mentioned that when other clients run larger validators than Ethereum 2.0, they will produce scripts similar to proof-of-work systems. In contrast, the BitcoinABC team discovered a critical vulnerability that caused it to be unable to handle any transactions, making Bitcoin Cash a highly secure and attack-resistant platform. In addition, he suggested that mining pools should not overly rely on known Bitcoin addresses as trustees, but ensure that the identity of the holders is clearly known.