Bitcoin SV (BSV) started in November 2018 as a hard fork of Bitcoin Cash, which itself was a hard forked version of the original Bitcoin. BSV was one of two coins that emerged from the hard fork, with Bitcoin Cash ABC as the other coin created from the event.
Upon creation of Bitcoin SV, Bitcoin cash holders who had their private keys or kept their Bitcoins on a service that supported the split were able to receive equal amounts of Bitcoin SV and Bitcoin Cash ABC, resulting in further divergence in Bitcoin price dynamics.
The Bitcoin SV team said that its vision is to restore the Bitcoin protocol to its original design, assuring stability with only a limited and well-known set of changes, including the restoration the Satoshi op_codes to enable businesses and development teams around the world to create the many solutions possible on the BSV blockchain, such as smart contracts, tokenization, atomic swaps, and many more.
Bitcoin SV also enables massive scaling, which its team says will pave the way for the BSV blockchain to support significantly higher transaction volumes and more transaction fees for miners. This is important for miners to maintain profitability as the block reward will halve again in the year 2020 (reducing from 12 BSV to 6.25 BSV for each block), and halve again in later years.