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Bitcoin Cash Network Discussion May 2021 - Summary

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Written by   202
1 month ago

On May 1st 2021 the 4th Bitcoin Cash Network Discussion took place over Zoom.

The main topic of the discussion was Smart Bitcoin Cash: An EVM compatible sidechain for Bitcoin Cash.

smartBCH is a BCH sidechain that makes adding DeFi and Web3 DApps much easier.

This includes the porting over of existing Ethereum based projects using the EVM (Ethereum Virtual Machine).

There are 2 serious problems in crypto right now. BCH's scripting system is still in the process of improving while ETH has become expensive due to capacity issues. smartBCH aims to solve both of these issues.


💡 Potential Positives:

  • Most ETH projects are open source and could benefit from being easily ported to run on BCH. Similar ETH clones such as BSC are centralized and have very limited liquidity.

  • Another big advantage of smartBCH is that it is not just a clone of ETH. It was built from the ground up with hardware optimization in mind.

  • Staking and yield farming will become possible on BCH.

  • ETH does not work as well as BCH as p2p cash due to high fees. BCH can become the best of both worlds.


🤔 Things To Consider:

  • The first validators of smartBCH will be selected by mining pools.

  • Smart contracts are only as secure as the programmer who made them. Bugs and flaws can lead to the loss of funds.

  • There is some controversy about the benefit of “burning” fees on the smartBCH sidechain.


More useful information & links:

smartbch website:
https://smartbch.org/

Bitcoin Cash Network Discussion website:
https://bitcoincashnetworkdiscussions.org/

Subscribe to the BCH Network Discussion Youtube channel: https://www.youtube.com/channel/UCmyoHmbSsChInLzZ9S5aAAw


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Written by   202
1 month ago
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