Bitcoin Cash is making a big leap to decentralized finance. Last year, General Protocols, a company dedicated to building decentralized finance (defi) protocols on top of BCH, raised $3 million from strategic investors after launching Anyhedge and Detoken, the first two defi instances of tools designed to operate on top of the BCH protocol. And just recently, a new sidechain called Smartbch that uses Bitcoin Cash as its main token was launched, with the ability to run EVM compatible content. This would give Bitcoin Cash, in theory, an equivalent functionality to Ethereum and compatibility.
As all of this happened, the development of the currency didn’t stop. A number of node implementations joined a new node called Bitcoin Cash Node and the devs collectively took over the development tasks of the protocol. On May 15, 2021, a new update was applied to the BCH chain with success. This update brought a number of important improvements, including the inclusion of an unlimited number of unconfirmed chained transactions. Also, new measures to add transparency and standards to control what gets upgraded and when, like CHIPs (Cash Improvement Proposals), are designed to avoid new confrontations like the ones that happened in the past.
what did you think about the fourth year of Bitcoin Cash’s existence? Tell us in the comments section below.