About BitcoinSoV (BSOV)

The 17th of June 2019, an anonymous person with the pseudonym “Mundo” created the BitcoinSOV (BSOV) smart-contract with this transaction. The main idea of creating a truly decentralized deflationary token came from the hyper inflation crisis seen in many parts of the world, ex. Venezuela, where centralized government authorities produced extreme amounts of their local valuta. Hyper inflation made the value of Venezuela’s currency drop down to extreme levels, until the paper it was printed on was worth more than the currency itself. BSOV is a token, a smart-contract built on the Ethereum (ETH) blockchain. BSOV fulfills the ERC20 and the ERC918 token standards, which makes it both mineable by proof-of-work (PoW) and interoperable with ERC20-enabled wallets. The deflationary mechanism is nearly the only technical difference between BTC and BSOV, except that BSOV has no consensus mechanism. The BSOV smart-contract is immutable and secured by the Ethereum (ETH) blockchain, and therefore is incredibly resistant against 51% attacks compared to other mineable cryptocurrencies.