Popular Wallet Blockchain.com Adds Limited Support for Bitcoin SV (BSV) Token

2019-1-24 00:36

Following the contentious hardfork that led to the creation of two versions of the controversial bitcoin cash (BCH), Blockchain.com (formerly Blockchain.info), the makers of one of the most trusted bitcoin wallets has announced partial support for BSV, after closing monitoring the network since November 15, 2018, when the fork took place, according to a blog post by the firm on January 22, 2019.

Blockchain Wallet Partially Supporting BSV

As stated in its blog post, following the BCH split of November 15, Blockchain.com implemented a coin-splitting solution on its platform in December 2018 to enable it to safely resume bitcoin cash services, ensuring users’ funds were securely preserved on the SV chain even though it chose bitcoin cash ABC as the default BCH at the time.

After carefully studying the SV chain since November, Blockchain.com says it is now ready to offer partial support for the altcoin.

“We have been tracking Bitcoin SV chain closely and will now offer limited, close out transaction support for Bitcoin SV (BSV),”

the team declared, adding

“We do not have plans to support BSV at this time fully.”

Importantly, with the latest development, users of Blockchain.com can now view their balance, exchange the digital asset for bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and stellar lumens (XLM) via the Swap feature on its platform and BSV holders can also send it to other BSV addresses.

Although the firm has made it clear it has no plans to enable full support for BSV at the moment; it has however pledged to continue monitoring the chain to know when it would launch full support for the coin.

The Bitcoin Cash Story So Far

It’s noteworthy that the Bitcoin Cash hardfork which brought both bitcoin cash ABC and bitcoin cash SV to life was caused by serious disagreements between two development teams over how best to upgrade the Bitcoin Cash network.

Specifically, node software provider, Bitcoin-ABC was looking to tweak the Bitcoin Cash network and add features like smart contracts and oracles that would make it possible for developers to build blockchain application on Bitcoin Cash, thereby giving it more use cases and making it function more like the original Bitcoin network.

Meanwhile, Craig Wright’s nChain planned to solve scalability issues and bolster transaction speeds by increasing the Bitcoin Cash blocksize from 32MB to a maximum of 128MB.

At current both versions of Bitcoin Cash continue to survive, with BCH ABC trading at $227.31 while BCH SV sits at $76.17 as seen on CoinMarketCap.

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