We know we currently have two big tokens that are going to surpass BTC in the future of two main types of operations:
BitcoinCash is going to take its place as the transactional token of the future;
ETH is on its way to glory thanks to its DeFi features and rich ecosystem (provided it can solve its scalability issues)
On the other hand, BitcoinCash could be THE perfect token if it could harness the power of DeFi, and as you know this is going to be done sooner rather than later with projects like SmartBCH and future projects coming from the smarter than average sample of visionary developers that already see the power of the true Bitcoin network.
Now, the importance of DeFi on the Cryptosphere CANNOT be overestimated - it is the source of adoption, buy pressure, and evangelization we need and the game-changer we have been looking forward to.
Throughout this article, I'm going to tell you 7 Reasons EVERYTHING changes with BCH-based DeFi!
Amazing Throughput: ONE BILLION Gas Equivalent per 15 Seconds!
First of all, we have to analyze how SmartBCH and our blockchain work together in order to produce the amazing throughput equivalent to 1.000.000.000 gas per 15 seconds.
This is reason alone for BCH and its DeFi ecosystem to start competing with Ethereum, Binance Smart Chain and others.
We know first hand how frustrating low throughput is since we crypto guys use DeFi a lot (by the way, if you still don't use DeFi, you are missing lot on one of the greatest opportunities of our lifetime - hurry up, those APR and APY won't hold these levels forever)!
Low Costs: Gone Are the Profit Losses From Transactions and Operations!
Operating DeFi wallets during this bullrun has been a nightmare for those using ETH pools.
The fees are so enormous that you lose HUGE slices of profit to them.
On the other hand, even low fee projects like Bunny Finance, Pancake Swap and others supporting the Binance Smart Chain have considerable fees for the small fish on DeFi.
For instances, BSC can cut your profits for a couple of bucks each time you click "Harvest" or "Compound", and this adds up if you're farming multiple pools.
On the other hand, we know how fees in BCH work... they are reliably low despite all of our transactions.
This is therefore a serious competitive advantage BCH will have over most blockchains and DeFi projects out there.
BCH based DeFi will have lower than average fees which will attract adoption and buy pressure.
SmartBCH is Perfect for DeFi: Short Block Intervals on the BCH Ecosystem
With short block intervals and built upon the BCH Ecosystem, SmartBCH is a perfect fit to make DeFi projects happen for us.
This is probably THE project to follow right now - at least as far as I'm concerned. I really have huge expectations for SmartBCH and I really hope those are met!
For now, I'm eagerly accompanying their developments, and I hope more and more devs see its potential so they can make the next game-changer project right here on our BCH backyard!
Bidirectional Transfers: More Sidechains, Richer Ecosystem
Another point on how SmartBCH is structured.
It allows for bidirectional transfers and on supporting more sidechains which will result in a globally richer ecosystem.
When I look for promising tokens, I often look at their ecosystem.
This was what lead me to find Steem and EOS in the first place, as back then these blockchains had among the biggest and most credible communities and ecosystems.
Steem was a huge won bet for me as I gained a lot of assets through it and even more once the HIVE fork came and LeoFinance started "mooning".
EOS... well, you don't win them all I guess.
On the other hand, BCH will enter the S-Tier in "Rich Ecosystem Cryptos", and this will bring us tons of benefits.
You'll want to get in before DeFi is implemented!
Crushingly Large Competitive Advantage Over Other Bitcoins:
The implementation of BCH-based DeFi will simply just Crush every other Bitcoin out there.
BCH is already fundamentally above every other out there, with BTC being ahead in price and whatnot...
...however!
With the implementation of DeFi and similar projects, BitcoinCash is going to get a crushingly large competitive advantage over the other chains, and show them "who's boss!"
Flocks of New Users from Other Chains: BitcoinCash Massive Adoption
Now let's focus on post-implementation and try to perceive just how serious the token and blockchain will be influenced by this change.
From all of the above-mentioned benefits, and many others I didn't even mention, the crypto crowd is going to set their eyes on BitcoinCash.
Other chains will see flocks of users making them obvious pilgrimage to a fundamentally sound token and chain, ideal for transactions and now also great for investments and long-term "HODLING".
We will see MASSIVE adoption once this happens, and there is going to be massive buy pressure which will make all of us BCH holders very happy.
Imagine the blockchain and network you see now...
...now imagine what will happen once these things come to fruition.
How exciting is that?
Buy Pressure, High Profitability, Low Transfer Fees: The BCH / BTC Flip Underway
We already covered buy pressure, but there are some things to add to the mix.
The added buy pressure, when mixed with the high profitability for holding the currency will make its value increase substantially.
We will see a HUGE growth on the token's price...
...and so BTC will start sweating by the bucketloads.
On the other hand, it's still Bitcoin.
It's still Peer-to-Peer Electronic Cash...
It's still our Digital Money!
Transfer fees are low, we will not all be holding it, because as more and more people flock to it, so will merchants, so will people doing business with it, and so we will for the first time see a highly transferable digital money token being used to both Hold and Transfer!
Again, this is just mindblowing in its possibilities.
I'm definitely eager to see all of this happen before my eyes.
We're living exciting times, and due to us having made the right choice in tokens they are even more exciting as things will only get better.
How are you feeling about all of this?
Cheers!
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I did not know DeFi yet and as you mention it here I think I am so much left behind. Yes, I use and being familiar with BCH and I thought I am halfway there but I guess, I had more notes to study. Thank you for making this article as a reminder that I must trust BCH for it will be with us sooner with lot of advantage and a realization that whenever I start knowing BCH it will be an endless opportunity of learning.