Simplified Payment Verification


1. definition

Simplified Payment Verification (SPV) is a method used in Bitcoin wallets to verify transactions with minimal data. It allows wallets to confirm transactions without downloading the entire blockchain, instead only requiring the headers of the blocks.


"SPV is a method that allows Bitcoin wallets to verify transactions without needing to download the entire blockchain. This makes it possible for lightweight wallets to function independently and securely."

2. benefits

The main benefits of SPV include:

  • Reduced data requirements: SPV wallets only need to download block headers, not the entire blockchain.

  • Increased privacy: SPV wallets don't need to rely on third-party servers for transaction verification.

  • Accessibility: SPV makes it possible to run a Bitcoin wallet on low-power devices, like smartphones.


    "SPV wallets have reduced data requirements, increased privacy, and can run on low-power devices. This makes them a popular choice for mobile Bitcoin wallets."

3. limitations

While SPV provides many benefits, it also has some limitations:

  • Less security: SPV wallets rely on trusting miners to validate transactions.

  • Limited verification: SPV wallets can't fully verify transactions as they don't have the entire blockchain.


    "While SPV wallets are convenient, they do have some limitations. They rely on trusting miners to validate transactions and can't fully verify transactions themselves as they don't have the entire blockchain."

* All terms and definitions may update as the Cryptionary improves.