In this article the key points I will be discussing about will be the following. If you have the information already about then you can skip to the desired part just by scrolling your mouse.
1. WHAT IS SMART BCH?
2. WHY IT IS CREATED?
3. POSSIBILITIES OVER THE SMART BITCOIN CASH?
SMARTBITCOIN CASH:
In simpler words smart Bitcoin Cash is the para chain or the side chain which is built over the main chain of the Blockchain named Bitcoin Cash. The sidechain will allow for the transactions to be recorded in the side blockchain allowing it for recording the independent transactions and eventually it will be recorded to the main transactions. It works by the process somehow similar to the one used to scale any other blockchain like Ethereum but the major thing is that smartBCH will make the Bitcoin Cash to be used for smart contracts and all other features that Ethereum do supports for now in way faster and more usable way.
We know that the Dapps over the ETH are unusable because of the high gas fee although London Hard Fork has been implemented there is nothing more changed in ETH. smartBCH will be able to solve that because the BCH is already faster and a sidechain over it means that there will be no issues in the speed with minimal to no fee.
WHY IT IS CREATED?
As being Bitcoin Cash enthusiast, we know that BCH is way faster, scalable than the traditional Bitcoin. But the issue is just like Bitcoin, BCH isn't able to run the smart contracts and Dapps over the main Blockchain. SmartBCH is created to stop that completely and make the Bitcoin Cash more than BITCOIN and more than ETHEREUM. Basically, it will enable the developers to create and deploy the decentralized application in the side chain of the Bitcoin Cash. One top of that, EVM will be supported on the Bitcoin Cash side chain with much more functionality than the Ethereum. As the team has been working with the support of the Bitcoin Cash Community, smartBCH is fully decentralized and the same BCH miners will be the recording the transactions and for electing the validators. SmartBCH will add more futility to the Bitcoin Cash making it the best choice for the investment and also enabling the best way for innovations and better ideas which I will be discussing in the later portion of the article.
POSSIBILITIES OVER THE smartBITCOIN CASH:
SmartBCH will enable the endless opportunities to the Bitcoin Cash increasing the more and more demand for the coin. Few of the major features which will be available because of smartBCH are:
1. DAPPS IN BCH:
YES, you heard it right. Decentralized application will be supported by the Bitcoin Cash. Developers can migrate their apps from the Ethereum Blockchain to the smartBCH with just few changes. Ehereum Virtual Machine will be supported by the smartBCH which makes the process possible and keep the requirements shuttle. So, that the developers don’t face big issues in doing so. Also, the users will get more options to choose from in the market. If they can provide the liquidity for the same pair by paying much smaller fee then obviously, they will go for the one with lower fees and faster speed than the one that is lagging behind both in speed and the price. From Automatic Market Maker to Flash Loans, everything will be available for the deployment.
2. PRIVILEGE TO THE MINERS:
Miners will be able to generate more and more income as the BCH miners can validate the transactions and being the side chain, it provides miners an option to elect the validators and they can earn more rewards from mining. The network will be more congested and a greater number of transactions will be required to solved making it more payable for the miners of the BCH community. This will play the domino effect after miners starts getting more profit and miners may shift from other Blockchains to the Bitcoin Cash Community making the whole Blockchain more decentralized than ever before.
3. SUPPLY SHOCK TO THE BITCOIN CASH:
Users can easily migrate their BCH using the cross-chain bridge and can use their BCH in the smartBCH. For every transaction there will be the fee required and BCH will be used there making it the more and more usable. The total value locked for the Dapps will increased making the BCH more and more scare in the market. In almost every AMM, BCH will be used which will make the demand of the Bitcoin Cash to sky rocket as with all the features of the ETHEREUM available to the smartBCH, it will be one of the viable competitors to the ETHEREUM Blockchains. SmartBCH is going to be great and I will be making further article about the project and if you love to hear more a follow would be massive.
If you have stayed till now, small tip will motivate me further.
Cheers!
It will be a great achievement to have smart BCH ❤️