We are pleased to announce that we have launched smartBCH successfully on July 30th, 2021 with three nodes as the genesis validators: BTC.com, ViaBTC, and Matrixport. smartBCH is now in its first voting period. More validators will be elected by sha256 miners and will take on the duty in the future. We appreciate all the help from the BCH community!
We have spent two more months in development than the original estimation to finalize the data structure of MoeingADS and to implement SEP101, SEP206, and Transaction Reorder onto smartBCH.
MoeingADS is the underlying storage engine for the world state, which is very hard to change in hard forks. Ethereum’s underlying storage engine MPT has never modified its data structure since the beginning. MoeingADS is now strong enough to support 51K TPS and can support smartBCH’s growth for many years without changing its primary data structure.
Innovation is the key mission of smartBCH. Its innovation is not only in the underlying storage and execution engines but also in the high-level semantics. Two new features, SEP101 (Store values with arbitrary length) and SEP206 (Manipulate Native Token as a SEP20 Token) were included ever since the genesis of smartBCH because they enhance EVM’s functionality and greatly eases DApp developers’ work. Also, to alleviate front-running, smartBCH reorders the transactions pseudo-randomly to prevent validators from ordering transactions in some profitable way.
In the next several months, our team will focus on the cross-chain gateway and cooperate with the community to continue building on smartBCH’s ecosystem.
In the past few weeks, many cross-chain bridge projects underwent exploits and suffered from massive loss of coins. Because of these events, we decided to redesign the cross-chain gateway between BCH and smartBCH. It will take security as the priority and be audited by the community.
Bitcoin Cash is a decentralized community and we are just a small team within it. We are not in control of the schedule of any browsers, wallets, DApps, and exchanges. However, it is encouraging to see that there are already several parties developing these indispensable elements for smartBCH. We’ll provide enough supports to them to enrich smartBCH’s ecosystem.
The launch is a solid step in smartBCH’s long journey. We invite everybody from the BCH community to use it and help its growth. We’ll soon provide some guides for BCH holders to try it and transfer a limited amount of coins cross-chain through the current simple gateway.
About smartBCH
smartBCH is a sidechain for Bitcoin Cash and has an aim to explore new ideas and unlock possibilities. It is compatible with Ethereum’s EVM and Web3 API and provides high throughput for DApps in a fast, secure, and decentralized manner.
If you see potential in what we are building and want to build with us, feel free to join our telegram: https://t.me/smartbch_community
Lastly, if there is anyone you know that could help with our project, please help us connect to them.
Congratulations!