Bitcoin SV (BSV) stands for Bitcoin Satoshi Vision. Spawned from a hard fork of Bitcoin Cash (BCH) in November 2018, BSV aims to fulfill the original vision of Bitcoin as outlined by Satoshi Nakamoto's white paper. The project emphasizes the need for a stable protocol that closely adheres to the original Bitcoin protocol and design, with scalability and fast transaction processing as its core focus. BSV seeks to enable massive scaling by significantly increasing the block size limit, which, in theory, allows for more transactions per block and reduces transaction fees, aiming to make it feasible for use as a global payment system and for various blockchain applications. 

Consensus Mechanism

BSV employs the original Bitcoin Proof-of-Work (PoW) consensus mechanism. In this system, miners compete to solve complex cryptographic puzzles using computational power. The first miner to solve the puzzle gets to add a new block to the blockchain and is rewarded with newly minted BSV coins and transaction fees from the transactions included in the block. This mechanism ensures network security, as rewriting the blockchain would require immense computational resources, making attacks economically unfeasible. The PoW consensus also promotes decentralization, as anyone with the necessary hardware and access to electricity can participate in mining.

Protocols

The protocols of BSV are designed to be stable and set in stone, echoing the belief that a fixed protocol is essential for developer confidence and the network's long-term viability. BSV's most notable protocol feature is its commitment to massive block sizes. 

The network has tested blocks up to 2GB in size, with plans for unlimited block size in the future. This approach aims to drastically increase the network's throughput, reduce transaction fees, and support more complex smart contracts and applications directly on the blockchain. 

BSV also supports tokenization and smart contract protocols, enabling a wide range of applications beyond simple transactions.

Use Cases

BSV's use cases are broad, given its focus on becoming a global blockchain infrastructure for payments and applications. Its large block size and low transaction fees make it suitable for micropayments, an area where traditional blockchain networks struggle due to higher fees. 

BSV also targets enterprise applications, offering a scalable infrastructure for data storage, supply chain management, and digital identity systems. 

The network's capacity for handling large volumes of transactions at low cost makes it an attractive platform for developing and deploying a wide range of decentralized applications (dApps), from social media platforms to online marketplaces and beyond.