nChain Event
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V.1.3.1
V.1.3.1
  • nChain Event User Guide
  • Overview
    • Introduction
      • Target Audience
    • Features and Benefits
      • Independent Operations
      • Web3 Development
    • Core Concepts
    • Encoded and Unencoded Records
  • Using nChain Event
    • Initial Set-Up
  • Independent Records
    • Introduction
    • Functional Description
      • Write Record
      • Read Record
      • Verify Record
    • Use Cases
      • Lucky Number Tickets
      • Internet of Things (IoT) Data
      • Intellectual Property Rights (IPR) Evidence
      • Car Dealership
    • Tutorials
      • Data Integrity
    • API Workflow
      • Write Record
      • Get Location Status
      • Read Record
      • Verify Record
  • Linked Records
    • Introduction
      • Concept - Link Locations
    • Functional Description
      • Create Link Record
      • Read Link Record
      • Update Link Record
      • Delete Link Record
      • Verify Link Record
    • Use Cases
      • Luxury Handbag Provenance
    • Tutorials
      • Collection Integrity
      • Provenance Integrity
    • API Workflow
      • Create Link Record
      • Get Link Location Status
      • Read Link Record
      • Update Link Record
      • Delete Link Record
      • Verify Link Record
  • API Documentation
    • nChain Event API
  • Bitcoin SV Blockchain
    • Features and Benefits
    • Writing to Blockchain
    • Reading from Blockchain
    • Transaction Format
    • Troubleshooting
    • Glossary
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  • High Integrity
  • Efficient
  • Global
  • Fast
  • Innovative
  1. Bitcoin SV Blockchain

Features and Benefits

PreviousVerify Link RecordNextWriting to Blockchain

The advantages of Bitcoin SV over other systems include:

High Integrity

  • Processed transactions are immutable.

  • Processed data is irrefutable.

  • Provides an irrefutable timestamp.

  • Provides a tamper-proof single point of truth or proof.

  • Provides irrefutable links between transactions.

Efficient

  • A transaction can be processed for for a fraction of a cent.

  • Whereas traditional bank costs are typically many cents per transaction.

  • The low cost enables many low payment and nano payments use cases.

Global

  • Transactions are stored on a global ledger.

  • One of the few truly global currencies.

  • Payments are public globally, whereas data may be either public or encoded.

  • Transaction data can be publicly linked depending on the use case.

Fast

  • Low value and data transactions can be accepted by a user wallet without confirmation.

  • Larger values can be confirmed (“will be mined”) by the infrastructure within seconds.

  • Final settlement on the blockchainby consensus will be confirmed within hours.

Innovative

  • Facilitates improved and new use cases for payment and data transactions.