What the smartBCH team are working on behind the scene

The smartBCH chain may have been considered dead by many, or not good enough for developers and project owners to build and do business as usual, however, going by what the smartBCH team are working on behind the scene, smartBCH is heading in the right direction.

It has been mentioned in so many smartBCH discussion groups the importance of having a decentralized media for smartBCH, a reliable cross-chain bridge, SHA-GATE, an innovative functions such as satellite chain, and the decentralized hosting of files.

Interestingly, the smartBCH developers team, led by Dr. Kui Wang, are working on all these things according to several reports found on the smartBCH Research Forum. We could even expect their released in the next month or so.

The need for a decentralized media cannot be overemphasized, because we know the harm of centralized organizations to the blockchain and blockchain projects. The injuries and the financial losses suffered due to the Coinflex situation still hurts badly, and it’s a really tough experience and lesson for all of us.

For the above reason, new projects have not been able to develop on the smartBCH chain, and the majority of existing projects moved to other chains. It's likely that no new project will like to develop on smartBCH until the CoinFlex incident is resolved. To this end, the most important thing for the smartBCH developer team is the development and deployment of SHA-GATE V2.

A public test of SHA-GATE V2 may take place next month, according to a report on the smartBCH research forum. The internal test of the new version is almost finished. The SHA-GATE V2 could be made available as early as January 2023.

We shouldn't forget that the smartBCH chain is still in the development stage even if it offers numerous benefits including compatibility with EVM, cheap cost, high throughput, and decentralization. The number of users is still quite tiny. Therefore, the only way to draw new developers and users to smartBCH is by offering novel functions that other competing chains don't have.

In the quest to make the smartBCH chain fully decentralized, the developers team leader Mr. Kui Wang is proposing a new concept of a satellite chain called GanyChain. This will function as a satellite chain for smartBCH for the purpose of attaining full decentralization.

The GanyChain according to that article posted on the smartBCH research forum by Mr. Kui, is designed to serve decentralized media system functions and as a fallback should any bugs in the core protocol develop or change.

This satellite chain will function on the main smartBCH chain by enabling optimize social applications, optimize games on the blockchain, and enrich the smartBCH ecosystem. Details about the GanyChain can be found in Mr. Kui article.

Additionally, the developers introduced ElfinHost, a fascinating new product. A Web 3.0 file hosting protocol called ElfinHost. According to the report, ElfinHost offers a complete solution for common authors without a technological experience, enabling them to effortlessly, freely, and securely transmit content to the target audience.

ElfiHost will act as a secure, decentralized platform for information exchange that will entirely solve the issue of censorship present on centralized social media sites like Facebook, Twitter, and Instagram. The smartBCH team is introducing to the market this new potential. We're keeping fingers crossed.

Even if the CoinFlex controversy still casts a shadow over smartBCH, the developers have been working hard, and committed community members are actively pushing the development of smartBCH on social media.

Their hard work is highly appreciated, and they deserve every bit of appreciation. Despite the fact that it's very difficult to promote smartBCH due to the Coinflex situation, several people are still supporting smartBCH with good will. We hope this will allow us to get another stab at building a decentralized blockchain of our dreams.

From all indication, things will start looking up on the smartBCH chain, and onboarding of new projects with the advantages of a decentralized media system powered by a fully compliant decentralized smartBCH blockchain seems to be a very bright future for the smartBCH chain.

Conclusion

As stated above, the CoinFlex incident has hindered projects development and slowed the progress of the smartBCH chain. But it did not discourage the smartBCH developers from continuing their work. The team, unlike other projects, is not ignoring the Coinflex incident, and still working very hard to find a solution that will be fair to the community as well as to the investor's confidence. The team is always open to suggestions and recommendations, and welcomes all opinions and ideas.

To share your ideas and participate in smartBCH related topics, join the smartBCH research forum here.