Blockchain Education Resource


This resource aims to provide comprehensive information on blockchain technology, with a focus on Bitcoin SV (BSV). It is designed to educate readers about the fundamentals of blockchain, the significance of Bitcoin SV, and the essential features and benefits it offers for secure and scalable transactions.

Timeline of Key Events

Blockchain Fundamentals

BSV is the only public blockchain offering security, scalability, stability, and support for safe, instant transactions - crucial characteristics for a global data ledger utilized by enterprises and governments. The BSV blockchain scales dynamically, offering fixed low transaction costs while being data and cost-efficient. Its protocol is stable and locked down, providing a reliable foundation for applications and services developed by businesses and government entities.

BSV's Transaction Efficiency

BSV is designed to handle a massive volume of transactions per second, with each transaction having a minimal environmental impact compared to traditional systems like Visa. As the network usage and transaction volume grow, the energy cost per transaction decreases, making BSV a sustainable choice for transactions.


ASIC (Application-Specific Integrated Circuit)
A specialized computer chip designed specifically for cryptocurrency mining, offering efficient performance for transaction verification.
A package of data containing multiple transactions, which is permanently recorded on the blockchain.
A digital ledger technology where transactions are securely recorded across a decentralized network of computers. Transactions are grouped into "blocks" and each new block is cryptographically linked to the previous one, forming a "chain" of blocks. This structure ensures data integrity and immutability, as altering information in a block would require recalculating the cryptographic links for all subsequent blocks. With Bitcoin SV (BSV), the blockchain operates on a peer-to-peer network using a Proof of Work (PoW) consensus algorithm to validate transactions and secure the network. BSV's blockchain is distinguished by its commitment to unlimited block sizes, enabling scalability to handle a large volume of transactions efficiently, and its protocol stability, providing a reliable foundation for building applications.
Block Reward
The reward miners receive for verifying and recording transactions on the blockchain, consisting of newly created bitcoin and transaction fees.
Consensus Algorithm
A protocol used by network nodes to agree on the state of the blockchain, with common types being Proof of Work (PoW) and Proof of Stake (PoS).
A characteristic of blockchain where control and governance are distributed across network participants rather than centralized in a single entity.
A measure reflecting the computational effort required to mine a new block, adjusting dynamically to maintain a consistent block creation rate.
A cryptographic function that converts input data into a fixed-length string of characters, used for data integrity verification.
The computing power of a network, measured in the number of hash operations performed per second.
An individual or entity that uses computational power to verify and record transactions on the blockchain, as well as compete in proof of work to receive an opportunity to publish a block of transactios and receive a block reward in return.
A computer connected to the blockchain network, which supports the network by maintaining a copy of the blockchain and, in some cases, validating transactions. *Note: Only miners produce new blocks.
Peer-to-Peer (P2P)
A decentralized network, used in blockchain and digital asset contexts, where participants interact directly without intermediaries.
Private Key
A secret cryptographic key that allows the holder to access and manage their bitcoin or other digital assets holdings.
Public Key
A cryptographic key that is derived from a private key, allowing others to send bitcoin or other digital assets to the key's holder without compromising security.
Smart Contract
A self-executing contract with terms written into code, which automatically enforces and executes contract terms when predefined conditions are met.
Transaction Fee
A fee paid to miners as compensation for processing and recording a bitcoin or other digital transactions on the blockchain.
A digital tool that allows users to store, receive, and send bitcoin or other digital assets, secured by cryptographic keys.
Refers to the capability of a blockchain network to handle a growing amount of work and its potential to be enlarged to accommodate that growth. In the context of Bitcoin SV (BSV), scalability ensures that the network can process high transaction volumes efficiently to meet the demands of global enterprise usage.
In blockchain, sustainability refers to the ability of the network to operate and secure itself in a way that is environmentally friendly and economically viable over the long term. BSV aims to achieve sustainability by optimizing energy usage and enabling miners to earn sufficient transaction fees as block rewards decrease over time.
Unbounded Block
Refers to a block with no fixed limit on its size. BSV's protocol allows for unbounded blocks, which means that the network can handle a virtually unlimited number of transactions. This characteristic is crucial for on-chain scaling, as it allows the BSV network to accommodate large transaction volumes without requiring off-chain or second-layer solutions.
BSV (Bitcoin SV)
Bitcoin Satoshi Vision (SV) is a cryptocurrency that emerged from a Bitcoin Cash hard fork. It aims to closely align with the original vision for Bitcoin, as outlined by Satoshi Nakamoto, with a focus on scalability, stability, and security. BSV enables fast, low-fee transactions and aims to be a global currency used by billions of people.
Transaction Volume
The number of transactions occurring over a particular period of time on a blockchain network. High transaction volume can be an indicator of a network's utility and adoption, and networks like BSV that can handle large volumes are well-suited to serve as global payment systems.
Genesis Upgrade
An upgrade to the BSV network implemented in February 2020. The Genesis upgrade removed the block size limit entirely, allowing for unbounded blocks, and restored a set of original Bitcoin opcodes and functionalities to enable more sophisticated scripting. This upgrade aimed to unleash the full potential of BSV as a platform for building applications.
Protocol Stability
A characteristic of a blockchain network where the core protocol does not undergo frequent changes. Protocol stability is crucial for businesses and developers as it provides a reliable foundation upon which they can build applications and services, knowing that their work won't be made obsolete by future protocol changes. BSV is committed to keeping its protocol stable to support enterprise adoption.
Very small financial transactions that are made possible by the low fees associated with a cryptocurrency like BSV. Microtransactions are crucial for enabling new business models, including instant micropayments for online content and services.