2 years ago
BCH developer Jason Dreyzehner states that the latest upgrade incorporates enactment for CashTokens, which helium considers a “tool for expanding fiscal access.”
The Bitcoin Cash (BCH) web underwent a large upgrade, allowing developers to make tokens with the aforesaid properties arsenic BCH. These are called “CashTokens,” and they tin beryllium issued by anyone utilizing the network.
The web successfully upgraded the blockchain astatine the BCH artifact tallness of 792,772. According to BCH developer Jason Dreyzehner, the caller upgrade includes enactment for CashTokens, which the developer believes to beryllium a “tool for expanding fiscal access.” The upgrade besides includes different features similar future-proof multiparty vaults and method improvements for transaction validation.
Congrats connected the 2023 upgrade, Bitcoin Cash!
Beginning with artifact #792773 (000000000000000002fc0cdadaef1857bbd2936d37ea94f80ba3db4a5e8353e8), $BCH supports #CashTokens, future-proof multiparty vaults (P2SH32), and respective non-breaking method improvements to TX validation.
The developer highlighted that CashTokens tin beryllium utilized for assorted applications from outgo stablecoins and commodities up to adjacent acquisition cards and lawsuit tickets. Dreyzehner besides mentioned that precocious on-chain applications volition besides go imaginable from its underlying technology. This includes decentralized exchanges (DEXs), information vaults and bridged sidechains.
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The terms of BCH tokens besides surged connected the aforesaid time owed to the caller update. Data shows that the tokens went from $114 to a precocious of $120 connected May 15. Despite the hype, the terms enactment was short-lived arsenic the terms astir instantly went backmost to the $113 to $114 scope aft the time of the upgrade.
Bitcoin Cash terms scale from May 14 to May 16. Source: CointelegraphThe CashTokens upgrade connected the Bitcoin Cash web comes arsenic BRC-20 tokens became progressively much popular. On May 9, BRC-20 tokens surpassed a $1 cardinal marketplace capitalization. The explosive maturation came 2 months aft the Bitcoin token fungibility protocol was created, and was fueled by the maturation of tokens similar ORDI, NALS, VMPX, PEPE and MEME.
While the caller improvement proves breathtaking for many, it came with a caller acceptable of problems for the network. On May 10, CryptoQuant expert Axel Adler Jr expressed that accrued fees and a backlog of transactions person besieged the Bitcoin network due to the fact that of the caller token standard.
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