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SmartBCH Essentials, Milestones And New Developments

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Written by   1317
4 months ago

Seven months have passed since the first projects, DeXs, SEP20 tokens, and Web3 decentralized applications emerged in smartBCH.

Hundreds of smart contracts are deployed, with the smartBCH community now reaching thousands of daily active members, embracing developments.

SmartBCH achieved a successful beginning phase while currently aiming to compete with dominant forces in the smart contracts field like Solana, Cardano, Polkadot, and Polygon.

In the following months, we expect the implementation of the decentralized bridge SHA-Gate. A development that will create new opportunities and bring smartBCH one step closer to achieving its targets.

The SHA-Gate bridge is a permissionless application that will initiate interoperability with Ethereum, allow asset transfer between the two networks, and further enhance the image of smartBCH in the Cryptoverse.

SmartBCH Essentials

(Pixabay, modified)

- Introduction to smartBCH

SmartBCH is an EVM-compatible network offering high throughput and supporting the creation and deployment of Ethereum based smart contracts. It is a sidechain to one of the most robust blockchain networks, Bitcoin Cash, providing a solution to Ethereum's high fees and congestion.

  • SmartBCH took steps to secure the network's reliability, having no structural weaknesses or failures that we've previously witnessed in other quality smart contracts networks.

  • There is no downtime or centralized intervention as the network operates smoothly, with no issues for almost one year.

  • Transactions only require a few seconds to proceed, as block time is 6 seconds, while the high throughput of smartBCH suggests a potential future market leader in the field of smart contracts.

  • Fees are currently low and vary between $0.02 - $0.10 for most operations and according to each contract's demands, while SmartBCH developers also plan to reduce gas requirements by 90%.

  • SmartBCH will soon deploy a decentralized bridge to Ethereum (SHA-gate). This development can potentially increase interest in smartBCH from users and investors of other top-quality platforms.

  • 100,000BCH are now locked in the smartBCH protocol.

Possible investments from funds similar to investments in Solana, Polygon, or Terra Luna, will raise TVL significantly and exponentially boost developments in smartBCH.

Connect to smartBCH with two clicks!

(source)

 - i) Setting Up Metamask

Beginners can find all the necessary steps to set up the Metamask Web3 wallet here.

- ii) Automatically Connect Metamask to smartBCH

Users already accustomed to Metamask can instantly connect their address to the network with just two clicks:

  • Visit marketcap.cash 

  • Press "Add SmartBCH To Metamask"

  • Sign the message

The smartBCH settings are loaded instantly to Metamask, and the user will only have to sign the message to add SmartBCH.

Manual Process:

Instructions to manually add smartBCH on Metamask are here.

SmartBCH Use Case

(source)

SmartBCH is expanding in every front of the smart contracts race.

Multiple DeFi, Dapps, NFTs, and blockchain games have been released or are under development, suggesting a bright future with vast potential for this platform.

- Gateways to smartBCH

SmartBCH doesn't have a native token like the rest sidechains but utilizes Bitcoin Cash $BCH as gas. SmartBCH operates with a tokenized version of Bitcoin Cash used in the smartBCH platform.

Users of smartBCH will be required to purchase BCH from an exchange and use one of the following gateways to convert BCH into its smartBCH counterpart:

With the MistSwap gateway (trading bridge) users can swap other cryptocurrencies in BCH and withdraw into smartBCH wallets.

Centralized exchange CoinFLEX also offers a gateway into smartBCH as it was the first bridge allowing the transfer of BCH into smartBCH.

- Tokens in smartBCH (SEP20)

Marketcap.cash is a dynamic website indexing and actively tracking smartBCH tokens and their live price.

Currently, it has 90 smartBCH tokens listed from a variety of use cases.

SmartBCH also offers tokens developed by popular projects with a multi-chain presence as:

SmartBCH is also the host of three stable coins with significant popularity in trading:

- DeFi in smartBCH

Perhaps only a few spectators could predict the number of DEXs smartBCH would host seven months after the announcement of the first one, BenSwap.

Currently, nine Dexs are active and offering decentralized financial services.

Bitcoin Cash is the native cryptocurrency of smartBCH, which also operates a fee-burning mechanism.

TVL in smartBCH DEXs reaches today at $34.68 million, although the price of BCH heavily influences TVL volumes.

(DeFiLlama)

While not a DEX, BlockNG also offers similar financial services, having integrated Defi services from the beginning.

Most DEXs are advancing their financial operations with new tools and upgrades and today offer attractive platforms and opportunities.

- NFTs in smartBCH

Some of the most successful NFT collections are :

  • LawPunks: Mint Phase 100 BCH (read more)

  • Poolside Puffers: Mint Phase 7.35 BCH (read more)

  • CashCats: 500 BCH

  • Thrones-Queens: 300 BCH (read more)

  • Reapers: 500 BCH (read more)

  • Gambling Apes Club: 400 BCH in 5 minutes! (read more)

  • Pandaland: 300 BCH (read more)

  • Pixel Guy Club: 150 BCH (read more)

  • Shorai: 300 BCH

  • Spice: 200 Spice NFTs (in 3 batches) so far sold on its marketplace

  • Lucky Tiger: 12.43 BCH

(read more)

It won't be long before we find hundreds of NFT collections on smartBCH. The significant volumes some of the collections generate during the mint phase are also followed by increased trading volumes in marketplaces:

NFT Marketplaces in smartBCH:

The decentralized marketplace OASIS is the NFT hub for smartBCH, with volumes, trades, and bids increasing each month.

- Blockchain games in smartBCH

Blockchain Games are rising on smartBCH, while some offer NFT collections and tokens under a play-to-earn model.

Some of the current and upcoming gaming platforms are:

Play-to-earn blockchain games are rising on smartBCH, and there are more currently under development.

In Conclusion

(source)

A decisive factor for smartBCH's initial success is the number of users it attracted in this initial stage and the quality of this community, allowing the platform to mature and explore its true potential.

Another factor for the smartBCH current level of success is the dedication of the smartBCH community to supporting users, developers, teams, and artists, which has served the smartBCH ecosystem remarkably well.

SmartBCH is growing as a strong contender for a spot among prevalent smart-contracts platforms.

Using smart contracts and decentralized financial services with smartBCH is equivalent to popular networks such as Solana or Polygon. Moreover, smartBCH presents a reliable solution to Ethereum's scalability issues with high throughput, a strong userbase, rising volumes, and growing TVL.

Images

Lead Image: by prettysleepy on Pixabay


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Written by   1317
4 months ago
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Comments

Your article is really awesome, I am sometimes surprised to think that you have such a deep knowledge of the BCH,,, I understand a little less about this so sometimes I read your articles very carefully,,,

$ 0.00
4 months ago

Even though I have no interest in these topics, your articles interest me. I wanted to say :)

$ 0.00
4 months ago

I lost hope when I invested in milk token and lost a huge amount but I hope to invest in nfts future projects like bchtown

$ 0.02
4 months ago

I am excited for the BCH towns as the other games were out of my reach as I entered in SmartBCH a bit late.

$ 0.02
4 months ago

Same here, I find all the blockchain games to have potential. It only needs one of them to succeed and then thousands more will join smartBCH.

$ 0.00
4 months ago

It's a great option for everyone and looks really easy to make. I must find out if metamask is working in my country.

$ 0.00
4 months ago

I've read somewhere that metamask is not working in Venezuela. There are ways to bypass regional restrictions, though. Proton offers a solution, for free too.

$ 0.00
4 months ago

I was amazed and excited at the same finding this good news from your article pantera

$ 0.00
4 months ago

I just new about kuiongfu by reading this article pantera, and thank you for that, I'll check this one later when I'm free.

$ 0.02
4 months ago

Added Verse too!

$ 0.00
4 months ago

Oh I see on caris article too about verse, I'll be waiting for your take about it with the hope of gaining more information about verse DEX.

$ 0.00
4 months ago

Yes, I also just learned it. It is a platform we were waiting for a while. I will definitely test it.

$ 0.00
4 months ago