An Overview of smartBCH and the Effect on Bitcoin Cash

Bitcoin Cash is up 10% weekly, outperforming almost any other cryptocurrency.

The performance of the Bitcoin Cash ecosystem lately has been remarkable. SmartBCH projects are attractive since there is much potential and most of them are outperforming tokens of other sidechains.

Almost every day we have fresh developments on smartBCH like new projects, utilities, new NFTs, new Web3 apps, bridges, etc. Bitcoin Cash is the native cryptocurrency for smartBCH and the sidechain has boosted its value already.

Some naysayers still do not recognize the benefits of a technologically advanced EVM-compatible blockchain, probably out of ignorance or spite.

Smart Contracts have taken the Bitcoin Cash community by storm and opened up new horizons and new opportunities. The gap between competing smart contract-based blockchains and sidechains is still wide, but this also means we are in this at an early stage.

With this article, I write about an overview of smartBCH, which has expanded into various niches and presents today a solid blockchain network that has unimaginable potential.

SmartBCH Overview

Image from: Pixabay (modified)

Index: MarketCap.Cash

The starting point in our SmartBCH journey is an indexer service, Marketcap.cash, the website that offers us a dynamic database containing all the active tokens in the SmartBCH market.

The Marketcap.cash website is already a great source of information and listing a project provides exposure and increased interest by investors.

SmartBCH tokens (SEP20)

There are close to 40 different (SEP20) tokens already. Each has a different purpose and most of them are offered at high liquidity in the three smartBCH DEXs.

Some of the most popular of these tokens (with links for more information) are:

• DEX tokens: BenSwap EBEN, MistSwap MIST, MuesliSwap MILK

• Stablecoins: flexUSD, Smart BUSD

• NFT tokens: Law Punks (LAW), CashCats (CATS)

• Meme tokens: ShibaBCH (SHIBBCH), Honk (HONK), Potato Coin(POT), Cash Kitten (KITTEN)

• Community tokens: Knuth (KTH), BCH Argenitna (ARG), UatX Project(UATX)

• Gaming tokens: Axie BCH (AXIEBCH), Enter The Sphere (ORB), Joystic Club (JOY)

• Other notable tokens: FLEX Coin (FLEX), BCHPad (BPAD), Celery (CLY)

Most of these tokens have a strong concept and a purpose that serves the Bitcoin Cash ecosystem.

There rest active tokens are SPICE, XMIST, MAZE, KONRA, HAM, ZOMBIE, SVNT, HODL, LIGHTNING, VANDALS, CANDYMAN, PHA, CHEESE, WRS, RMZ.

I haven't performed enough research on these projects. Some of them migrated from SLP and created new tokens on smartBCH. Others are new projects on smartBCH, but most of them have low liquidity on DEXs.

The website marketcap.cash contains more information one can extract including more links and price action information.

DeFi index: DeFi Llama

Defi Llama is now tracking SmartBCH offering information on TVL and DEXs:

TVL of SmartBCH has reached $37.8 million and keeps rising.

DEXs - DeFi

There are three DEXs already offering trading DeFi services like yield farming, lending, staking, and two more are under development.

Current DEXs

• BenSwap

• MistSwap

• MuesliSwap

Upcoming:

• KoingFu

• 1BCH

• SquidSwap

NFT Scene on SmartBCH

Many were surprised to see such high volumes in NFTs in SmartBCH and there are plenty of projects creating and offering NFT collections.

• Poolside Puffers (2100 NFTs - sold out in 3 days)

• Law Punks (10,000 NFTs - sold out in 22 days)

• Cats (5,000 NFTs sold in one hour, another 5,000 in auction)

These three NFT collections were some of the first introduced in SmartBCH and have

Law Punks has seen a surge in volumes and it can be expected something similar to happen with the rest two NFT collections once trading becomes available.

Volumes are soaring in Law Punk trading. According to the website, the total volume has reached 317 in BCH and 566,162 more in LAW tokens.

Source

NFT marketplace: OASIS

SmartBCH now has a marketplace that will soon be open to all for trading NFTs.

OASIS has launched and in the beginning, it was only used for minting Cats NFTs. NFT traders and collectors will soon be able to trade NFTs on a Web3 NFT marketplace using Metamask Wallet.

There are a few more marketplaces in development and could be great for competition.

Bridges

Source

Web3 bridges are already available to enter the smartBCH ecosystem. SmartBCH doesn't have a native token but utilizes Bitcoin Cash as such.

There are plenty of ways to transfer BCH in and out of the SmartBCH network today:

• CoinFLEX (in and out of SmartBCH)

• wagon.cash (one way to SmartBCH only)

• prompt.cash (one way to SmartBCH only)

• BCHCC (in and out of SmartBCH)

Soon there will be bridges to Ethereum for users to migrate tokens between the two networks.

Communication channels

Most of the discussion begins and ends in telegram and Twitter. Read.cash and noise.cash are exceptional resources at the hands of projects and should be used to the maximum.

Some projects publish announcements on read.cash but have small or no presence at noise.cash. Probably this should change with the creation of an official account for announcements and more communication with interested members and potential investors.

It costs nothing, and it would improve communication and advertising of projects to tens of thousands more users of Bitcoin Cash.

There can be events and promotional activities that will attract the noise.cash public in smartBCH projects.

Useful SmartBCH websites

There are various websites that provide support to the SmartBCH user, as well as some that contain important information to investors.

SmartScan: The SmartBCH official block explorer

TuxPaper.nu: A useful address scanner.

MarketCap.Cash: The SEP20 index described above

Sep20 Tokens: Add any SmartBCH tokens on metamask with just one click.

Alexandria: A live chart giving the number of total BCH burned through the fee-burning process of SmartBCH

Grafana: BCH node operator fountainhead gives more advanced details on SmartBCH network information, such as fees, block statistics, locked BCH, gas price, etc.

build.cash: Build.cash contains almost everything a SmartBCH user will need. It is a vast database of information with links and tutorials.

Checkbook.cash: Useful tool for airdrops (old service link)

In Conclusion

SmartBCH enjoys for the last few months a rising interest. It is still at a very early stage, but the grace period is over. It is time for current and upcoming projects to act as serious projects with a clear vision.

Professionalism is required, especially from the currently popular projects on top of smartBCH and anything else that appears. Driven just by short-term profit or greed can damage (temporarily) the potential of the entire market.

Most tokens on smartBCH (marketcap.cash) are all up by 50% since the previous week. There is vast interest in SmartBCH projects and while it is still early, usually the undertaken risk pays off later when a certain market increases a lot in popularity.

Solana, for example, overcame difficulties and reached an extremely high valuation. Although, Solana used vast marketing resources to succeed and advertised itself extensively in the cryptocurrency media.

SmartBCH is growing and silently achieving milestones other smart-contract blockchains will never meet. The effect to Bitcoin Cash currently may be relatively low but there will be an outburst at some point in the near term.

Lead Image Source: Pixabay, (modified)

Notes

[Dec 19,2020]: I removed from this article this part:

 The first one that is expected to launch on November 15th is:

• tokenbridge(dot)cash

There is an open scam-accusation against this service (tokenbridge) (Source Reddit 19/12/20) and since it is still an active website I felt it was best to remove this mention until this is all clear.

On the date of writing this post, the aforementioned "service" was only referenced as a mention of upcoming developments.

Related Content:

• DeFi on Bitcoin Cash is here! (March 22, 2021)

• SmartBCH Network Discussion (April 30,2021)

• How to Set Up Metamask and Add Networks: Binance (BSC), Polygon (Matic), OKEx, SmartBCH - Tutorial (July 7,2021)

• SmartBCH Metamask Tutorial - Connect to Network, Transfer BCH, Add Tokens and Trade on DEXs (September 8,2021)

• SmartBCH: What is this about and why we should care? (September 17,2021)

• Poolside Puffers! - A SmartBCH NFT Art Project With a Good Purpose! (October 3, 2021)

• Yield Farming with SmartBCH DeFi (October 12, 2021)

• Rapid GROWTH of the SmartBCH Network - DeFi, NFTs BOOMING (October 15, 2021)

• The Genesis of the SmartBCH NFT Universe (October 16, 2021)

• MuesliSwap SmartBCH DeFi: 100% PROFIT In 5-Days! (October 18, 2021)

• Transfer your BCH to SmartBCH Easily with Wagon.Cash & Prompt.Cash (October 19, 2021)

• LawPunks NFT Sold For RECORD 33 BCH! SmartBCH Volumes SPIKE! (October 21, 2021)

• LawPunks: High Volumes in the SmartBCH NFT Field (October 24, 2021)

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