- We have found that Bitcoin SV was spam attacked, as 2.4 million transactions were found in one block.
Below is a quick overview of this Project.
Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had, in turn, forked from the BTC blockchain a year earlier.
The goal of Bitcoin SV is to fulfill the original vision of the Bitcoin protocol and design as described in Satoshi Nakamoto’s white paper, early Bitcoin client software, and known Satoshi writings.
In our investigation, we found that Bitcoin SV was spam attacked 2.4 million transactions are recorded in one block, i.e.
Block 734491. Also, we have found one more block, i.e.
Block 744689 with 2.51 million transactions. Here is link to know more. In the screenshot below, we can see the no. of transactions.
Spam transactions are transactions that create undesirable extra load on the network due to not following Bitcoin best practices, either maliciously or out of ignorance.
Also, last year Bitcoin SV suffered a 51% attack where an unidentified group reorganized the Bitcoin SV blockchain, creating three different chains that were mined simultaneously.
Also, last year this Project was delisted from all the major centralized exchanges like Binance, Kraken, Coinbase, etc. Bitcoin SV is considered destructive and dishonest to the whole crypto community because of poor leadership by Craig Wright, who claims to be Satoshi Nakamoto. This was also due to the 51% attack and double-spending problem in BSV.
As crypto hacks are increasing nowadays, our readers should stay alert.