The Bitcoin Cash blockchain network went through a new upgrade & now allows developers to mint new tokens on the Bitcoin Cash network, just like Ethereum allows ERC-20 token minting.
Bitcoin Cash (BCH) is a forked blockchain network of the Bitcoin blockchain. In Aug 2017, Bitcoin Cash (BCH) took birth, as a part of the Bitcoin community conflict over the block size increase plans. The network of Bitcoin Cash is more efficient & fast than Bitcoin & Ethereum.
On 15 March 2023, A Bitcoin Cash developer confirmed that the Bitcoin Cash network successfully went through a new upgrade.
This new upgrade brought a new feature “Cash tokens”. Cash Tokens is a similar concept to Ethereum ERC-20. In short, any person can use the Bitcoin cash network to mint a new token on the Bitcoin cash network directly.
It is worth it to note that over the last couple of years, some countries deployed & tested their CBDC directly on the Ethereum blockchain network, so here Bitcoin Cash developer also believes that it will bring a similar kind of use case for the Bitcoin Cash network & here new token creator will feel more trust & confidence, as Bitcoin Cash is a fully Proof-of-work (PoW) network & also it is alone consensus with this feature.
Related Posts
Bitcoin ordinals
In Jan of this year, a devs team introduced the Bitcoin ordinals (BRC-20) concept allowing people to mint new tokens & new NFTs on the Bitcoin network.
Under the BRC-20 concept, every new token on Bitcoin ordinals has the corresponding blockchain identity against a single Satoshi unit.
Because of this new concept, people showed huge interest & they are using BRC-20 to mint huge numbers of NFTs & new tokens, obviously not more than garbage.
Over the last few weeks, the Bitcoin network saw very high traffic & also faced congestion issues. So here it will be interesting to see the new challenges for Bitcoin Cash’ Cash tokens protocol.
Read also: Court judge denies the SEC’s Motion to Seal the Hinman documents
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- Source: https://bitcoinik.com/now-people-can-mint-new-tokens-on-bitcoin-cash-bch-network/
- :has
- :is
- :not
- 15%
- 17
- 2017
- 2023
- 22
- 30
- 8
- 9
- a
- against
- Allowing
- allows
- alone
- also
- any
- ARE
- AS
- Aug
- BCH
- BE
- believes
- Bitcoin
- Bitcoin Blockchain
- Bitcoin Cash
- Bitcoin Cash (BCH)
- Bitcoin Community
- Bitcoin Network
- Block
- Block size
- blockchain
- blockchain network
- bring
- brought
- Buying
- CAN
- case
- Cash
- CBDC
- challenges
- community
- concept
- confidence
- CONFIRMED
- conflict
- congestion
- Consensus
- Corresponding
- countries
- Couple
- creator
- deployed
- Developer
- developers
- Devs
- directly
- efficient
- ERC-20
- etc
- Ether (ETH)
- ethereum
- Ethereum blockchain
- Every
- excluded
- Exercise
- faced
- fair
- FAST
- Feature
- feel
- few
- food
- For
- Foundation
- Freedom
- freedoms
- from
- fully
- here
- High
- hinman
- HTTPS
- huge
- Identity
- if
- in
- Increase
- increasingly
- instantly
- interest
- interesting
- introduced
- issues
- IT
- Jan
- judge
- just
- Kind
- Last
- left
- like
- little
- March
- mint
- minting
- more
- more efficient
- motion
- network
- New
- new feature
- NFTs
- now
- numbers
- of
- offer
- on
- or
- Other
- over
- part
- People
- person
- plans
- plato
- Plato Data Intelligence
- PlatoData
- Post
- PoW
- Proof-of-Work
- Proof-of-Work (PoW)
- protection
- protest
- protocol
- REST
- right
- rights
- Satoshi
- see
- Short
- showed
- similar
- single
- Size
- So
- some
- Successfully
- team
- than
- that
- The
- The Block
- their
- These
- they
- this
- this year
- those
- Through
- time
- to
- token
- Tokens
- took
- traffic
- trial
- true
- Trust
- unit
- updated
- upgrade
- use
- use case
- using
- very
- Weeks
- went
- when
- which
- will
- with
- working
- worth
- year
- years
- you
- zephyrnet
