Bitcoin – An Overview

Bitcoin becomes Blockchain

From 2024 onwards, Bitcoin has now embarked on the most exciting and disruptive stage of its journey, becoming the blockchain for all the worlds data and much much more.

Bitcoin Achieves Multiple World Records

From 2022 onward, Bitcoin’s original protocol has established a series of world records. These achievements include consistently exceeding 50,000 transactions per second, generating the largest blocks (over 4GB in size), producing the largest NFT (1GB), and maintaining the lowest environmental impact among all proof-of-work (POW) chains.

Genesis Upgrade

The Genesis upgrade restored the original Bitcoin Protocol as closely as possible to Satoshi’s original design, locking it down to create stability for developers and enterprises to build upon. Unbounded scaling returned, as did the original Bitcoin script language that allows developers to build on-chain applications easier.

BSV remains as Bitcoin, BCH forks away

BitcoinSV (BSV) becomes the new ticker symbol for the original Bitcoin Protocol when BCH decided to divert from Bitcoin’s White Paper, introduce non-Bitcoin compliant features which included introducing anonymity that hinders goverment and financial regulation. This is why it’s considered Bitcoin’s Independence Day.

BCH remains as Bitcoin, BTC forks away

“Segregated Witness” or SegWit, was designed to remove the tracing capabilities of Bitcoin allowing the introduction of off-chain, opaque exchange solutions such as the Lightning Network. The introduction of this broke Bitcoin’s original protocol and clearly renders BTC as non-Bitcoin compliant and intentionally ineffective.

Satoshi gets concerned and takes a sabbatical

Dr. Craig S. Wright was very explicit about his concerns that Bitcoin was being infiltrated by anonymous developers, criminals were misusing it and it had become associated with projects like WikiLeaks. This distortion of his tool was unacceptable and thus removed himself from the project to ‘venture into more complex ideas’ like the MetaNet.

Bitcoin White Paper released

The vision for what Bitcoin is, and supposed to be, was outlined by its inventor Dr. Craig S. Wright, using the pseudonym Satoshi Nakamoto, in the white paper entitled “Bitcoin: A Peer to Peer Electronic Cash System”. 4 months later the first open source Bitcoin client software is released.