When you give birth to a child, you love the child so much that nothing the child does is wrong.

After a while, you begin to expect more from the child because that’s what it should be…

… and then you see yourself and those around you placing such demands on the child.

If you don’t see reasonable changes, it can be discouraging. If you see, it’s fun.

Bitcoin is going through the same process.

And sure, every innovative work today goes through that and real fast especially with the rate of technological innovations we see daily.

For baby bitcoin, its scalability has been the root of questions.

Yes, it’s given so much value through the decentralized system for control backed with some high level of security from the cryptographic process it uses.

But it’s slow. 🤦🏾‍♂️

Transactions can take longer time than is expected.

More and more users are coming into the network, therefore more traffic and longer time for transactions to be verified.

And if it takes longer time for transactions to be verified, why then should we leave our more traditional systems for baby Bitcoin?

Solutions?

Thanks to developers and miners who suggested these:

  • There should be reduction in the amount of data that needs to be verified in each block so that it becomes faster and less expensive.
  • The blocks of data should be bigger.

Why?

So that more information can be processed per time.

These gave birth to grand baby Bitcoin Cash (BCH).

So what happened between baby Bitcoin and grand baby Bitcoin Cash?

In 2017, global miners, controlling up to 90 percent of bitcoin computing power decided to integrate a technology known as a segregated witness (Segwit3) into the system.

The impact?

Reduction in the size of data to be validated in each block.

The process involved the removal of signature data from the block of data that needs to be processed per transaction and attaching it to an extended block.

It worked for a while but more had to be done.

So both the Segwit system and doubling of the block size to accommodate more transactions were proposed as Segwit2x.

And then…?

Bitcoin Cash was created by bitcoin miners and developers who were not satisfied by the Segwit2x implementation.

They felt it wasn’t in line with Lord Satoshi Nakamoto’s vision of the cryptocurrency: decentralization was under threat.

Therefore, they initiated a hard fork, which created Bitcoin Cash BCH, with it’s own Blockchain.

One major difference between baby Bitcoin and grand baby, Bitcoin Cash has been the block size.

Grand baby Bitcoin Cash has a larger size than baby Bitcoin thereby making transaction processing faster, with lesser transaction fees.

But wait…

… larger block size means more threats to security.

Ooouch! 🤦🏾‍♂️😔

And then, the birth of Bitcoin SV.

How and why?

In November of 2018, a hard fork was initiated in the Bitcoin Cash blockchain… surely by developers and miners.

The initiators wanted to “stay true to the original vision for bitcoin that Satoshi Nakamoto described in the bitcoin white paper while also making modifications to facilitate scalability and faster transaction speeds”.

And so great grand baby Bitcoin SV comes in.

So, what next are we expecting?

Baby Bitcoin is alive.

Grand baby, Bitcoin Cash is here.

And the cutest great grand baby Bitcoin SV is in her colt.

Do we see more generations of Bitcoin coming on?

Well, time shall tell.