SmartBCH is gradually taking over the Defi ecosystem

The Defi ecosystem is gradually taken over by smartBCH, a project that aims to develop, support, and grow the ecosystem of decentralized financial applications. The project is important because it focuses on the development of smart contracts and decentralized applications (dApps) that support the Bitcoin cash blockchain protocol.

When looking at smartBCH, it’s important to mention that this ecosystem is a very new project. If you are just starting to learn about it, you may also be interested in reading some of our articles like How to start with smartBCH for newbies and laymen and Some useful guilds on your smartBCH journey.

It’s pretty clear to just about everyone that BCH has the momentum in the crypto space. I have written about this several times, and you can read that from my profile. Do you know what else has momentum? smartBCH. Like the currency itself, smartBCH is gradually taking over the Defi ecosystem. It’s not something that will happen overnight, but it’s happening -- and that’s exciting to see.

Ethereum, the world's biggest smart contract network has been slowly losing its position to SmartBCH since its launch in October. The is mainly because Ethereum is slower than SmartBCH and has a higher gas fee per transaction. The biggest reason Ethereum has been losing its popularity is that the network has been congested, costing users more per transaction. There have been multiple reports of Ethereum network congestion making it unusable.

The statement and comparison above hold true when compared to the Ethereum network as SmartBCH is built on the Bitcoin cash network, which guarantees a transaction will always succeed. In contrast, with Ethereum, transactions are confirmed one by one on a first come first serve basis. This means that if the nodes that receive your transaction are busy, this transaction can be delayed.

This delay will make it difficult to trade on the Ethereum network as trading times will be longer than the transaction verification time, In this case, SmartBCH would not only be able to exchange in near real-time but also at a lower gas fee.

It is quite impressive that the SmartBCH developer team was able to transfer the utility of Bitcoin Cash on the Ethereum network. The SmartBCH network is running on the Bitcoin Cash network and is more decentralized and liquid than the Ethereum network.

SmartBCH is a novel concept that allows developers to build dapps and smart contracts, and at the same time allowing trade-in near real-time with near-zero gas fees. It uses Bitcoin Cash as the blockchain or the network for smart contract storage and executes these contracts and the contracts for the SmartBCH based application. This concept could pave way for many dapps to be built and eventually for the network to gain traction.

The success of the SmartBCH projects will also open a world of opportunities for small entrepreneurs and businesses that want to trade in a Dex without paying higher transaction fees. The project will also have an impact on the digital asset exchange market as the concept of decentralized exchanges can be realized.

The SmartBCH developers are working on a bridge to connect the ETH network that allows ETH token holders to connect with SmartBCH. The bridge is expected to be launched in the near future and it will allow ETH holders to convert their ether to SmartBCH tokens.

However, we have sBUSD, a SmartBCH network token that is specifically created to allow BSC Defi users to connect to SmartBCH by swapping BNB to sBUSD. The only drawback, in this case, is that anyone who desires to migrate to SmartBCH from BSC with sBUSD will need to contact the token developers directly for a deal. Nevertheless, it's a good development because the sBUSD token is a stable coin with much potentials in the SmartBCH network.

Moreover, Tropical finance Dex which will be launching today has something in that direction. That's one feature that will make this new Dex ahead of others, the ability to connect with other blockchains, thus expanding the SmartBCH user base.

Last but not least, SmartBCH is a complete Defi ecosystem with lots of tokens being created and NFT creators doing what they know how to do. Already, there are several NFT projects running on the SmartBCH network and many more to be launched soon. The next SmartBCH project set for launch is Tropical finance Dex. And the telegram group for the project is ready for all questions related to the project.