Bitcoin Cash Ecosystem
Hello guys,
This is a guide to give an overview of the Bitcoin Cash Ecosystem in a simple and easy way being far from the technical side.
What is Bitcoin Cash?
Bitcoin Cash is a cryptocurrency that was developed to be used as an electronic payment system and especially peer to peer with the vision to replace fiat currency in the future.
Bitcoin cash was forked from Bitcoin on August 1, 2017 and it uses the same Blockchain.
The difference between Bitcoin and Bitcoin Cash is that Bitcoin Cash is faster in transactions because it has a larger block size, has lower fees and it is simple to operate.
Plus there is a very important difference which is that the BCH dev team is faster at implementing updates.
Why you need to use Bitcoin Cash?
Bitcoin Cash has many advantages of usage such as:
1-Sending money around the globe almost for free.
2-Having a full control over your money without the need for banks.
3-It has a fixed supply of 21 million coins so no fear of inflation.
4-It is very secure and it respects privacy and anonymity.
Bitcoin Cash Ecosystem.
Someone on reddit named "tralxz" made this map which is extremely important and shows all of the BCH ecosystem.
This map included the Defi and smart contracts solutions, coins and tokens, games, wallets, socials, exchanges, NTF, websites where to earn BCH and many more.
Here is the link of this map.
I will tell you briefly about the categories in this map:
Defi and smart contracts which are decentralized apps to execute financial transactions over a blockchain without the need of intermediary like banks or brokerages or government agencies. Example Anyhedge, Detoken and SmartBCH which I will talk about more in the next section.
Coins and tokens like BCH, FlexUSD, Green Ben, MIST, Tango and a lot more.
Noting that only BCH is the coin on the main chain and on the SmartBCH side-chain and all the others are tokens on SmartBCH side-chain.
Games like BCH.games, Blockchain Poker, Cash games and many more..
The games use tokens and you can earn tokens by playing.
Wallets which are software programs that allow you to store, send and receive digital currencies and they are two types: Mobile wallets like Bitcoin.com, Electron Cash, Coinbase, BitPay and many more. And the hardware wallets likes Trezor and Ledger.
Socials which are the platforms where you can earn cryptocurrency by writing, reading, posting, or any other task and the following socials let you earn BCH like Read.cash, noise.cash, Memo.cash and many more.
Exchanges which are online platforms used to buy and sell cryptocurrency for cryptocurrency or fiat. And there are two types custodial and non custodial.
Non custodial like Local.Bitcoin.com, ShapeShift.
Custodial like Coinbase Pro, Kraken, CoinEx, Binance, Bittrex.
NFT marketplace like Juungle which is a marketplace for NFT collectibles on bch blockchain.
Websites to earn BCH like lazyFox, Venezuela Workers, Working for Bitcoins where you can earn by doing some tasks.
What is SmartBCH?
One of the newest and most successful projects of Bitcoincash is the smartbch project, which is a BCH side-chain compatible with EVM & Web 3 API. It enables the migration of Ethereum 2.0 projects to Bitcoin Cash side-chain so they can benefit from high throughput & low fees.
The default wallet for smartbch until now is Metamask and I already made an article about how to set it up. Click here.
To have smartbch coins, you have to use one of the bridges like Hop.cash, CoinFlex and recently Mistswap bridge.
Oasis is the marketplace for NFT on smartbch.
There are several DEXs and swaps built on the smartbch like Benswap.cash, Mistswap.fi, 1BCH, Tangoswap.cash, Cowswap. cash and Tropical.finance.
Kindly check my previous articles to know how to use them.
https://read.cash/@TLGirl/let-the-harvest-on-smartbch-begins-17bf10c9
https://read.cash/@TLGirl/exploring-new-dexs-on-smartbch-0645c378
The block explorer of smartbch is smartscan.cash, to check the charts and market capitalization go to marketcap.cash.
Bitcoin Cash is the future and the team is making huge steps to compete in the market by adapting the strongest blockchain to host a lot of Dapps and Dexs and to be more agile.
SmartBCH became popular very fast because of the fast and cheap transactions. And certainly it will become more and more popular and a lot of new and exciting Dapps will be added to the Ecosystem.
Thanks for reading ❤️
*This is my original article.
*Pictures are from google.
*Feel free to register in Read.Cash using my link:
*In Publish0x with the link:
https://www.publish0x.com/?a=APdR6OBRdG
Useful links and references:
hopefully i could interact with other authors and learn from them, really fascinated with writing