Chapter 1 The Current State and Development Path of BTC
BTC inherits the core legacy of Bitcoin, including broad consensus, naming rights, and a mature ecosystem, making it the most recognized version of Bitcoin in the market today. Its core achievements are maintaining a 1M block size limit and achieving Segregated Witness, with a clear focus on two development directions:
Decentralization cornerstone: Insisting on the principle that 'ordinary users can run full nodes', ensuring that node thresholds are controllable through code optimization (such as high-quality development of Bitcoin Core), thereby proving decentralization attributes.
Hierarchical functional architecture: The main chain is positioned as a 'value storage and settlement network', with payment functions expanded through the Lightning Network, while complex applications rely on sidechains (such as smart contracts). It attempts to construct a 'main chain + Lightning Network' monetary system, while leveraging sidechains to support richer blockchain applications.
Chapter 2 The Current State and Development Path of BCH
BCH inherits part of Bitcoin's legacy, with a solid ecological foundation, and its name and branding continue to maintain Bitcoin's recognizability. Its core goal is to become a 'world currency' and 'underlying platform for on-chain applications', with development strategies focusing on main chain optimization and second-layer networks:
Main chain capability upgrade: Through continuous expansion (ensuring low transaction fee certainty), optimizing payment experience (such as promoting zero confirmations, pre-consensus, and shortening block times), and improving functionalities (such as OP_Return expansion, supporting token issuance, adding new operation codes), directly carrying monetary functions and application development on the main chain. Typical applications include decentralized microblogging Memo, paid download platform JoyStream, and encrypted communication tool Keyport, among others.
Second-layer network expansion: Through second-layer networks based on BCH like Wormhole and Kenoken, carrying out complex functions like smart contracts, and competing with BTC's sidechains.
Chapter 3 The Current State and Development Path of BSV
BSV is a branch that split later, and its ecosystem is still forming, being weaker than the first two in terms of legacy inheritance (e.g., low logo recognizability, ambiguous naming). Its goals are similar to BCH, aiming to become a 'world currency' and 'on-chain application platform', but the path is more radical:
Complete main chain expansion and protocol return: Advocating for radical expansion, restoring Bitcoin version 0.1 protocol, believing that early scripts have Turing completeness and can support complex functionalities.
Removing code restrictions: The core difference lies in removing a large number of artificially imposed code restrictions, including block size, number of script operation codes, OP_Return space, and dust transaction thresholds, advocating for a market mechanism rather than code-set constraints, believing that 'the free market will naturally emerge reasonable rules'.
Second-layer network layout: Similar to BCH, expanding functionalities through second-layer networks, but the underlying logic emphasizes the unlimited potential of the main chain.
Chapter 4 Core Differences Comparison
The ultimate goal of the three is directed towards 'monetary functions' and 'blockchain applications', but there are significant differences in the paths and philosophies to achieve them:
Chapter 5 Conclusion
The communities of the three are often in opposition, and rational discussions are easily labeled as 'sitting on the fence'. However, objectively speaking, the three paths essentially represent different trade-offs between 'decentralization and efficiency' and 'artificial design and market emergence', with no conclusion currently. Continuously observing their ecological implementation and market feedback may be a more rational attitude.
