BITCOIN CASH, a technology far beyond for JUST digital Cash
Bitcoin's history begins when a genius creates not just an idea, but how to implement it, making the blockchain a means of sending and receiving money in a simple, fast and cheap way so that users can have a better way of transacting using Bitcoin as money any way they want.
The Technology is a revolution that marks its 14th anniversary on January 3rd, transforming the world economic market, creating a new planetary order in which the user is the crucial element for transactions to take place.
No financial institution has a part here, as the peer-to-peer system requires no intervention from that party, just that two executors can transact freely between them, paying super low fees and needing 0-confirmations [Bitcoin Cash] for the value to be promptly used by the receiver.
About 14 years ago that was exactly what net users thought, but were they wrong?
Well, the idea of ​​decentralized digital money has always been the core motto of Bitcoin, but blockchain technology has also evolved since then, with developers making arduous efforts to make it go beyond being just money on the network! It is here that Bitcoin Cash has greater usability not only as money but also a new DeFi space with the various techniques that can be perfected and integrated into the Bitcoin ecosystem.
Today we can follow smart contracts over the Bitcoin Cash Blockchain, taking the example of the Bchbull web application that allows users to leverage or hedge Bitcoin Cash against several on-chain assets, that is, it allows running applications in decentralized finance without having to abandon the on-chain network.
This happens thanks to a system of techniques I mentioned above, one of them being the UTXO model that allows transactions to be verified independently and efficiently. Also, using UTXOS technology, Smart contracts can be deployed completely independently and isolated from each other.
The DeFi space is mostly dominated by Dapps that run on top of ethereum, but Bitcoin Cash can also have an ecosystem turned to the world of decentralized finance involving functional techniques such as covenants, state simulation and trust minimized price oracles making an ecosystem more than possible DeFi on top of Bitcoin Cash.
A few days ago I published an article that highlights the importance of CASHTOKENS in the Bitcoin Cash ecosystem and will make it possible for the May 2023 upgrade to create Fungible and non Fungible Tokens on top of Bitcoin Cash.
Cash scripts ensure smart contracts are written abstractly for Bitcoin Cash enhancing developer experience and making contracts reliable. Bitcoin Cash transactions run on a virtual machine called Bitcoin script.
Bitcoin Cash transactions run on a virtual machine called Bitcoin Script. Writing bytecode for this virtual machine is difficult and error-prone. CashScript offers a strong abstraction for writing Bitcoin Cash smart contracts, improving developer experience and reliability of contracts.
Bitcoin Cash may be priced as it is today, but the development behind it is quite promising. Bitcoin Cash is a dormant power with a long period of evolution, today nobody can realize it yet but I am very pleased with what is being done and 2023 will be a "restart", if I am allowed to say, with the delivery of several products scheduled to be deployed during the next big upgrade.
Bitcoin Cash is a revolution in the crypto space and time will be our allies as we watch the evolution of decentralized digital cash that works for everyone.
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