Bitcoin Cash - AFTERMATH of the year 2022
The year 2022 was a great year for Bitcoin Cash, of course many may not consider it that way, but based on the fact that the entire market is in bear, it is positive to say that the currency had an acceptable performance taking into account that there are more than seven months it is around 100 dollars per unit.
Not only that, but there has also been a lot of development behind Bitcoin Cash which will only increase this year with the CHIP that could be introduced in May 2023 that will lead to the implementation of CashTokens.
It was also in 2022, in November, that the Bitcoin Cash conference took place on the islands of ST KITTS and Nevis, bringing together leading figures in the Bitcoin Cash ecosystem, among them developers, onboarders, enthusiasts and others who, in unison, spoke the same language and promised work even harder for the currency to be recognized as a viable method of making payments.
It was also in ST KITTS and Nevis that the Prime Minister, and also Minister of Economy, made it known that Bitcoin Cash could be recognized as a LEGAL TENDER in the island territory as early as March of this year.
According to the prime minister, the government has been studying the subject for a long time and Bitcoin Cash fits in with what the territory's ambitions aim for, a currency that works for payments as well as an investment instrument in the country.
At the conference there was also the announcement by the CEO of zapit.io app that will allow more than 60 million merchants in India to receive payments in Bitcoin Cash and, because of the volatility of the currency, have the privilege of receiving in INR rupees using the Payments Interface Unified.
There was also the evolution of the Paytaca wallet, which opened a new field in the Bitcoin Cash storage apps space and allows that, in addition of receiving and sending the currency, can also use the BCHBULL web application directly from the wallet by Hedging or leveraging Bitcoin Cash .
Still speaking of BCHBULL, it is necessary to add that it has DeFi functionalities that allow the creation of smart contracts using UTXO on-chain technology in which the user pays low fees in completely independent contacts that can allow people to have access to a tool that provides them with more BCH without having to dispose of the Bitcoin Cash portfolio.
Also one of the decentralized apps built on top of Bitcoin Cash was UNSPENT Phi, a tool that allow people to create simple smart contracts on-chain.
KimDotCom launched the Cashrain app on beta phase and app that enables people to promote their social account making raining some Bitcoin Cash to active members for each task they do or just for pure fun! It was released in late December 2022 and promise to revolucionate the engagement between community builders and users.
What to Expect in the Year 2023 in the Bitcoin Cash Ecosystem?
The Bitcoin Cash community is very eloquent and continues to grow, both in size and online presence, many in the community are people who believe in decentralized digital money and are not here just for mere coincidence or formality but, to give the currency a magical touch and it can develop as a means of payment as well as a means of non-transferable self-storage personal money.
Bitcoin Cash will grow in technical terms with the introduction of CashTokens in May 2023, allowing the creation of Fungible and non Fungible Tokens over Bitcoin Cash in a decentralized, non-custodial and completely on-chain way, appearing as one of the instruments most significant for Bitcoin Cash in the year 2023.
The year 2023 will be a milestone for Bitcoin Cash not only for the aforementioned reasons but also for the development of several projects in the Bitcoin Cash ecosystem that will drive the growth, recognition and massive use of Bitcoin Cash in the world.
The crypto space is already being plagued by problems such as custodial storage that causes many Bitcoin Cash users to lose savings to rogue platforms like what we saw at the end of the year happen with FTX, And this year this behavior has to be changed and, Within the Bitcoin Cash community, there are, for example, projects that aim to educate people in this regard to believe that the best solution for storage is non-custodial.
I believe that a lot of great things will happen within the Bitcoin Cash ecosystem this year and help to further promote the name of the decentralized digital money that works for the world, borderless, low fee and very fast with great use in e-commerce as well as in general trade.
Bitcoin Cash is an essential currency for anyone who values financial freedom as it can be used anywhere in the world on a non-custodial basis.
Time is a great ally as it will tell how much Bitcoin Cash can grow in 2023 and beyond.
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Finally - the BIGGEST FESTIVE EVENT OF THE YEAR IS HERE: Bitcoin Cash Conference 2022
A Little Update on my house building using Bitcoin Cash: focus on the electrical part
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I am so happy that the hype around cryptos is getting exposed. Once most of the hypes are exposed, there might be a few real crypto solutions that would survive :)
Happy New Calendar Year, 2023!