Unlocking the Potential of sBCH: A Positive Proposal for SmartBCH's Success
SmartBCH presents substantial technological potential, it stands out as a cost-effective alternative to Ethereum, retaining core blockchain components while enabling robust development. This invites developers, users, and supporters who believe in an efficient, affordable chain like Ethereum, powered by the EVM. The primary misstep lay in the decision to entrust the protocol's treasury, containing the entire circulating value, to Coinflex. This move proved detrimental to the community, as Coinflex's opaque and unsubstantiated claims caused disruption, thereby undermining the robustness of the smart chain's foundation.
Undoubtedly, the smart chain possesses all the essential attributes for success, further evidenced by ongoing endeavors such as BlockNg, Tangoswap, Benswap, and other initiatives. Despite the previously mentioned challenges, these projects have persevered, progressively advancing and inspiring renewed faith in SmartBCH's viability. Notably close to reality, I encountered an exceptionally insightful article that compelled me to draft this composition. This piece embodies the belief that SmartBCH can indeed be revitalized through innovative concepts and active community engagement, even in the face of widespread skepticism.
In the aforementioned article the author suggests that the community should take steps to ensure the stability and progress of SmartBCH. He propose to clearly differentiate the sBCH token from the main chain BCH and limit the total supply of sBCH, while allowing the market to determine its value.
The author also suggests using sBCH as a gas fee and governance token, capped in total supply. He propose introducing more sBCH tokens into circulation through airdrops or relying on existing sBCH holders' donations. Additionally, he suggest burning a portion of available sBCH tokens and utilizing the gas fee in a structured way.
A combination of these efforts, along with technological advancements and independence, are expected to attract new users and create a strong community around SmartBCH, but let's analyze the main author ideas and see how positively they can disrupt the sBCH's smart chain:
Differentiating sBCH: The Path to Stability
One of the cornerstone ideas of the author proposal is the clear differentiation between sBCH and the main chain BCH. This differentiation not only reinforces the token's unique identity but also ensures that it's backed by the SmartBCH community's support rather than the main chain. The proposal advocates for limiting the total supply of sBCH, allowing the market to determine its value. This approach can help avoid inflation and maintain scarcity, enhancing the token's stability and attractiveness to investors.
Empowering the Community: Airdrops and Growth
To fuel growth and attract new users, the proposal suggests introducing additional sBCH tokens through airdrops. By incentivizing new users to join the SmartBCH ecosystem, the community can expand organically and become more vibrant. This influx of users can drive engagement, collaboration, and a shared commitment to SmartBCH's success.
Dual Role of sBCH: Gas Fee and Governance Token
The proposal envisions sBCH serving a dual purpose: as a gas fee token and a governance token. This duality not only provides a valuable utility to the token but also encourages users to hold onto their sBCH. The token becomes an integral part of the ecosystem, facilitating transactions and decision-making, thereby enhancing its intrinsic value.
Strategic Token Management: Burning and Structured Fees
Responsible token management is pivotal to sBCH's long-term success. The proposal suggests burning a portion of available sBCH tokens, reinforcing the scarcity and value of the token. Additionally, structuring gas fees to serve multiple purposes, including burning, rewarding PoS nodes, and purchasing and burning main chain BCH, aligns with the commitment to uphold promises made to the community.
Embracing Independence and Technological Leadership
SmartBCH's path to success includes positioning itself as an independent protocol with advanced technology. By differentiating from other Layer 2 solutions, SmartBCH can attract developers and builders seeking innovation and better solutions. The ecosystem's ability to evolve independently strengthens its value proposition and potential for growth.
Conclusion: A Roadmap to Success
As the SmartBCH ecosystem evolves, the proposed ideas offer a positive roadmap to success for sBCH. By enhancing technology, rebuilding trust, differentiating the token, encouraging growth, and responsibly managing tokens, SmartBCH can establish itself as a thriving and resilient blockchain ecosystem. The shared commitment of the community, supported by these strategic initiatives, could ultimately unlock sBCH's potential and pave the way for a brighter future.
Author's Note: This writeup presents a proposal to study various scenarios for the development of SmartBCH and not a definitive "solution." It highlights the importance of diverse ideas within a community, fostering a strong future-oriented community. The proposal emphasizes the need for innovative thinking and welcomes proposals to stimulate fruitful debates. While acknowledging SmartBCH's technological potential as an Ethereum alternative, the proposal acknowledges challenges, particularly regarding the protocol's treasury. Despite hurdles, ongoing projects like BlockNg, Tangoswap, and Benswap demonstrate progress and renewed faith.
The article suggests differentiating sBCH from BCH, limiting supply, and using it as a dual-purpose token, which won't happen as developments have been made to put the main bridge up to solve the issue to get in and out value from the sidechain also there's no more connection between the sidechain to Coinflex or even Mark Lamb. But,the article presents a vital approach and critique constructively, acknowledging potential solutions with prudence. The most important seed for a community is definitely the people involvement with 💡 and a reliable framework that could drive SmartBCH's progress, sometimes everyone should think out or the box!
Useful links to get connected on SmartBCH:
To add a SmartBCH network on Metamask users just need to go to https://chainlist.org and search in the list of EVM's "smartBCH" to get connected to the wallet or visit my article with all the information you need.
How to use the bolivar bridge brought by BlockNG and MistSwap, a tutorial by alberdioni8406
Buying sBCH can be done thru many ways but can use the https://orders.cash or using a combination of buying BCH BEP-20, USDT BEP-20, Ethereum BEP-20 and more on the Binance Smart chain and Bridge them using Bolivar (BlockNg) Bridge to smartBCH.
Latest smartBCH Article's: More about the Staking Upgrade, An Introduction to the Market-Making Bot for Atomic-Swap, How to run an atomic swap bot.
