There is a cryptocurrency, among the best known on the market, which due to lack of updates puts its owners at risk.
There are many types of cryptocurrencies. Some safer, some with more potential, some more dangerous. Among all, one of the most well-known virtual currencies on the market should be at all costs avoided by any serious and high-performance crypto trader. In other words, a cryptocurrency to be carefully avoided by those who do not want to have unpleasant surprises.
On the market, we find thousands of digital currencies. In fact, anyone can create and launch a cryptocurrency today.
However, the vast majority of these coins should not be viewed as true investments. In fact, it can be expected that only a small handful of cryptocurrencies will maintain or gain value over time.
The risk is to let yourself be duped by the promise of a quick profit, without bothering to look for where the real innovation lies. Some crypto projects can be an unsafe place to lose your money. Others have more serious intentions, but without a structure supported by one or more serious investors, they have no realistic chance against the real giants of the sector.
Bitcoin, the industry giant par excellence, has evolved and increased its value over the years. Its code has been updated through several hard forks, which have new features and fixed dangerous bugs. The developer community has not always agreed on the best solution to follow, so what we call Bitcoin today is the largest and most widely accepted version comparable to the trunk of a (code) tree with several branches. This is how cryptocurrencies were born that we could define as "cousins" of BTC.
Why Bitcoin SV should be avoided
Bitcoin Cash (BCH/USD) was born when Bitcoin introduced segregated witness technology, or SegWit. Since then, Bitcoin SV (BSV/USD) was split from Bitcoin Cash as the payments-focused cryptocurrency adopted new security features of privacy.
Bitcoin SV stands for Satoshi’s Vision, a nod to the anonymous creator of Bitcoin, Satoshi Nakamoto, and looks a lot like the 2017 version of Bitcoin. However, official changes applied to Bitcoin over the past few years have been crucial to making the transaction system faster and more secure.
It’s not true that the original is always better, or perfect. Laws may be updated, software companies release new versions to fix bugs, and writers rely on editors to fix typos.
And this is why Bitcoin in 2023 is not the same as Bitcoin in 2017. The coin Satoshi’s Vision is not consolidating a perfect operating model, as those behind the cryptocurrency today believe. It is simply postponing necessary updates.
Some exchanges have even gone so far as to prevent the sale or conversion of Bitcoin SV into other cryptocurrencies.
It is difficult to see potential in a cryptocurrency that voluntarily decides to continue to embrace an old technology. By not proceeding with the appropriate updates, Bitcoin SV can expose its users to vulnerabilities already identified in the past and corrected in the main Bitcoin blockchain. Staying away from Bitcoin SV seems like a good idea, even if you manage to find it on the market.
Original article published on Money.it Italy 2023-09-25 16:06:00. Original title: Questa criptovaluta è da evitare a tutti i costi
