Bitcoin Satoshi Vision (BSV) Cryptocurrency Can Now Be Stored In Electrum SV wallets!
Bitcoin SV (BSV) is gaining more popularity by the day as more businesses chose to embrace the cryptocurrency. One of the main reasons why it has stood out is coin’s similarity in design to Satoshi’s BTC hence the same vision. Recently, its mother entity ‘bComm Association’ made an announcement of the newly available Electrum SV wallets.
If you have been a crypto enthusiast for a while, it is likely you’ve heard about the pioneer Electrum wallet originally created for BTC. This digital wallet is categorized among the best within the crypto arena owing to its fundamental value. The newly launched Electrum SV will even be better with more advanced features that include;
- Desktop Compatibility
- Account management features
- Link with other hardware wallets such as Keepkey, Ledger & Bitbox.
- Modern interface that enables private key transfer between Electrum SV & other digital wallets.
- Conversion feature for BCH to BSV crypto coins.
This innovation was created by Neil Boom & Roger Taylor who earlier on had interacted with a digital wallet known as Electron built to serve Bitcoin Cash holders. The two stated that BSV was created following Bitcoin’s steps but with a keenness on the coin’s stability and practicality. It, therefore, follows that the Electrum SV digital wallet will enhance the coin’s efficiency in the future.
At the moment, Electrum SV is designed for desktop use and its developers have hinted that this may remain as is for a while. The explanation given was Electrum SV is a choice wallet for mostly developers hence the desktop approach. Furthermore, the team has already ventured into the mobile market as well through its products; Cashpay, PixelWallet, Centbee & Handcash.
BSV has seen quite a successful end of 2018 despite the bearish market. The coin was added as a pair on a couple coin exchanges and bundled as an investment asset by Circle Invest. In addition, the coin’s hard fork attracted a good number of payment service providers with the most recent pledging support earlier this week.
Booth and Taylor are optimistic that with consistent development they will create a wallet that will be favorable for consumer adoption with a top notch user experience. The two developers concur that it is time for BTC to move to the next level in terms of practicality and stability of the protocol used. According to Booth and Taylor, this will facilitate massive BSV adoption as a cryptocurrency in the second decade of digital assets existence. The goal for the Electrum SV wallet comes down to shifting interface design from being developer-oriented to simple wallets that anyone can use.
An interesting feature of Electrum SV wallet is the coin splitting tool which the two developers explained in an interview with CoinGeek;
“It works by combining coins received from a BSV-only faucet with the other coins in your wallet so that your coins become BSV-only coins from that point on. You can recover your ABC coins using Electron Cash in the usual way, but only after performing the coin splitting procedure.”
Booth also made a few comments on what to expect in future for the Electrum SV wallet. Ideally, the team targets to improve on the existing features such as the ecosystem to accommodate bigger wallets going forward. The GUI will also be enhanced to give a full user experience together with privacy features built on the multisig design.
The launch of Electrum SV was well accepted by bComm Association President, Jimmy Nguyen. He echoed positive sentiments about this move terming as possible legacy within crypto development;
“We are thrilled to help Roger and Neil bring the strong legacy of the Electrum wallet to Bitcoin SV. The ElectrumSV team understands that Bitcoin is for everyone, not just for developers. That is why their approach to upgrade Electrum into a more user-friendly wallet for BSV is critical to help achieve the Satoshi Vision – a world where billions of people globally use Bitcoin every day.”
Bitcoin Satoshi Vision (BSV) remains the only cryptocurrency ecosystem that has stuck to Bitcoin’s pioneer goal. Its developments have been guided by Bitcoin’s legit whitepaper as intended by Satoshi. Basically, the crypto coin has much potential to deliver an efficient and effective P2P payment avenue.