Ahmed Ali Three months after the May 15 Cashtokens upgrade on the Bitcoin Cash network, vigorous development continues across various areas including non-custodial wallets, marketplaces, non-fungible tokens (NFTs), gaming, and other applications. Joemar Taganna, Paytaca wallet’s CEO, highlights the “advancements in achieving consensus” and “innovative and potent protocol upgrades” as emblematic of diverse parties’ collaboration to advance the peer-to-peer cash movement.
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New Ventures: Green Monsters, Gurus, Cats, and Predictive Markets
Post the May 15, 2023 upgrade of Bitcoin Cash, which essentially implemented onchain smart contracts for BCH by leveraging unspent transaction outputs (UTXOs), there’s been a continuous flow of innovation around Cashtokens. This feature has sparked the development of a plethora of NFTs and marketplaces such as tapswap.cash.
Though still in its infancy compared to other networks, the NFT sales and trade activities have been progressing steadily. Marketplaces are still emerging, and decentralized exchanges (dexs) are in experimental phases. However, development has been brisk and diligent. Advocates of Cashtokens emphasize the chain’s enhanced capability to facilitate various kinds of direct onchain peer-to-peer transactions at lower fees. Notable NFT collections include Emerald DAO, Bitcats Heroes Club, and BCH Gurus.
In May, developer Jason Dreyzehner told CryptokenTop.com News, “Suddenly, the construction of efficient, UTXO-based decentralized applications became possible while retaining crucial features of Bitcoin Cash: low-cost stateless transaction validation and instant re-spending.”
Tools for Creation and Popular Projects
Paytaca, the maker of the Cashtokens-compatible Paytaca wallet, is currently crafting a tool called Cashtokens Studio that will allow any user to create NFTs. CEO Joemar Taganna, also linked to Bitcats Heroes Club NFTs, stated:
“The demand for a tool accessible to the public to create tokens via the Cashtokens protocol is now urgent. The present process is largely manual and thus cumbersome and prone to mistakes. That’s why Cashtokens Studio is in development.”
A notable NFT initiative since the May upgrade is BCH Gurus, a multidimensional project involving price prediction games powered by NFTs and other tokens on the new protocol. The BCH Guru Team commented, “The Cashtokens upgrade has birthed an entirely fresh ecosystem on Bitcoin Cash’s mainchain,” combining NFTs with a fungible token, enabling onchain price prediction games through a Cashtokens smart contract.
Community, Technological Developments, and Crypto Custody Philosophy
Taganna acknowledges the need for new tools to create most defi applications similar to other chains, accepting the considerable challenge with enthusiasm. Reflecting on Bitcoin Cash’s evolution, he observes:
“The BCH community is reinvigorated and effective, a departure from previous years marked by political discord and divisions. Now, individual developers, teams, and entrepreneurs, backed by harmonized donors and investors, are united to push the peer-to-peer cash revolution forward.”
A fundamental aspect of adhering to Satoshi Nakamoto’s vision of uncensorable currency without the necessity for financial institutions is the complete control over one’s crypto. This principle is ardently supported within the Bitcoin Cash community. Non-custodial bitcoin cash wallets that align with the Cashtokens upgrade include Paytaca, Electron Cash, Cashonize, and Zapit.
What’s your perspective on this development? Share your opinions in the comments below.
Frequently Asked Questions (FAQs) about Crypto Development
What was the purpose of the May 15 Cashtokens upgrade on the Bitcoin Cash network?
The May 15 Cashtokens upgrade aimed to enhance the Bitcoin Cash network by enabling onchain smart contracts using unspent transaction outputs (UTXOs).
What developments have occurred in the aftermath of the Cashtokens upgrade?
Post the Cashtokens upgrade, there has been a flurry of activity in various areas such as the creation of non-fungible tokens (NFTs), establishment of marketplaces like tapswap.cash, development of non-custodial wallets, and the emergence of price prediction games on the new protocol.
What role does the Cashtokens protocol play in enabling new applications on Bitcoin Cash?
Cashtokens protocol allows for the creation of various decentralized applications directly on the Bitcoin Cash mainchain. It facilitates permissionless peer-to-peer exchanges at lower fees compared to other protocols.
What is the significance of the tool “Cashtokens Studio”?
Cashtokens Studio is a tool being developed by Paytaca to enable anyone to easily create their own NFTs using the Cashtokens protocol. It aims to simplify and automate a previously manual and error-prone process.
How has the Bitcoin Cash community evolved in recent years?
The Bitcoin Cash community has become more vibrant and productive, with individuals, development teams, entrepreneurs, donors, and investors working together harmoniously to advance the peer-to-peer cash revolution. This unity contrasts with previous years marked by political conflicts and divisions.
Which wallets support the Cashtokens upgrade for Bitcoin Cash?
Non-custodial bitcoin cash wallets that support the Cashtokens upgrade include Paytaca, Electron Cash, Cashonize, and Zapit. These wallets allow users to maintain complete control over their cryptocurrencies.
What impact has the Cashtokens upgrade had on NFTs and marketplaces?
The Cashtokens upgrade has given rise to a new ecosystem on the Bitcoin Cash mainchain, fostering the creation of various NFT collections and marketplaces. Though still in early stages, these developments show promising growth potential.
More about Crypto Development
- Cashtokens Upgrade Overview
- Tapswap.cash NFT Marketplace
- Emerald DAO NFT Collection
- Bitcats Heroes Club
- BCH Gurus NFT Project
- Paytaca Wallet
- Electron Cash Wallet
- Cashonize Wallet
- Zapit Wallet
6 comments
hey, wait up! so, they upgraded BCH, making it smarter? neat.
wallets, marketplaces, games – BANG! bch devs bringin’ it!
wallets x4, all about control. zap it, cashonize – secure the loot!
what’s this Cashtokens Studio thing? easy NFTs? sounds awesome!
BCH gettin’ all cozy with P2P cash vibe. unity FTW!
im all in for NFTs, but market small now. bigger later?