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Testnet for smartBCH, a Bitcoin Cash Layer-2 Project, Is Now Public
Started in December 2020, smartBCH is a sidechain for Bitcoin Cash and has an aim to explo...
7 months ago
We are really excited to announce that, as of today, the smartBCH testnet is now live. Developers and DApp builders can now find the testnet information at https://docs.smartbch.org/smartbch/testnets . The testnet will allow anyone to experiment with and develop for a high-performance, EVM-compatible Bitcoin Cash sidechain.
We know the Bitcoin Cash community has been eagerly awaiting the release of the smartBCH testnet and interest has grown daily. Our telegram channel alone boasted hundreds of members even before the first single-node test version was released. The abilities of smartBCH, while still untested on a live public chain, are promising. Mark Lamb, CEO of CoinFLEX, has had his dev team running a private testnet of smartBCH. Lamb reported, “Metamask is connecting without issue, and solidity code is working well. We set up a DEX on our private testnet, created tokens…and it’s all going smoothly.”
There has been a huge surge of interest in “Ethereum killers” lately due to extreme congestion and high fees on Ethereum. Users and developers have flocked to other blockchains like BSC, Polkadot, and EOS. Even these alternative smart contract platforms have seen gas fees go higher due to market demand. SmartBCH is poised to take away some of the market share for DApps and DeFi by using novel attempts to scale far past what previous blockchains have managed to achieve.
smartBCH is a first-of-its-kind sidechain for Bitcoin Cash, launched by our dev team which has been in blockchain development since 2016. Bitcoin Cash has spent nearly its entire history as a top-10 coin by market capitalization. It enjoys relatively high liquidity, merchant adoption, and an enthusiastic and engaged community. Bitcoin Cash itself is not specifically equipped for smart contracting functions, preferring use cases centered around peer-to-peer cash. However, as a sidechain to Bitcoin Cash, smartBCH aims to build a new playground for the Bitcoin Cash ecosystem and enlarge the userbase. SmartBCH is EVM & Web3 compatible and has a short block interval to support DeFi applications. Its throughput will be as large as one billion gas every 15 seconds to allow more users to access DeFi at a very low cost.
With years of experience developing hardware and software solutions in the blockchain industry backing us up, we are pleased to announce the testnet is live and we welcome everyone to test its functionality. “SmartBCH provides an EVM & Web3 compatible sidechain for Bitcoin Cash, staking its hash power while utilizing BCH as the native gas-paying token. What’s more, by incorporating hardware-friendly components, vastly increased scalability is unlocked,” said Kui Wang, lead developer of smartBCH. “We believe that smartBCH will provide the same benefits as ETH2.0 in a much shorter time frame, achieving a block gas limit of one billion.”
Started in December 2020, smartBCH is a sidechain for Bitcoin Cash and has an aim to explore new ideas and unlock novel possibilities. By developing optimized, high-throughput and hardware-friendly libraries compatible with the de facto standards of smart contracts, DeFi applications can be easily migrated into Bitcoin Cash’s ecosystem and run fluently at low cost. In March 2021, smartBCH raised 1000 BCH from the Bitcoin Cash community with a Flipstarter campaign. The funds will be used for product and business development.