Revolutionizing DeFi: Cauldron Unveils the First CashTokens Bitcoin Cash DEX
I have delved into the world of decentralized exchanges (DEXes) extensively, navigating through various projects, only to encounter signs of centralization along the way. This led me to the realization that many so-called DeFi projects are, in fact, DINO projects—Decentralized In Name Only.
One perennial challenge with sidechains revolves around the bridges or pegs connecting the layer one network to the sidechain. Take SmartBCH, for instance, where the custodian of the bridge absconded with the SmartBCH community's BCH meant to support the sBCH token. RSK faces a similar issue with its bridge, relying on nodes that sign transactions with security hardware devices vulnerable to physical compromise or infection.
Bitcoin Cash, through its upgrade to CashTokens, addresses some of these issues, although it introduces additional data to the BCH blockchain. While the blockchain's future promises dynamic blocks. At 32Mb, the capacity for regular computers and internet connections to manage the BCH blockchain remains feasible, with my research suggesting a potential limit of around 128Mb. In the U.S., a 300mbps internet connection costs less than $100 in major cities, and a NAS HDD setup at 128Mb every 10 minutes should suffice for the next decade, costing around $2500 for about 100TB. As internet services advance, reaching 1GB, block propagation concerns will likely diminish. With the growing capabilities of everyday computers, running a 128Mb blockchain may soon become as ordinary as running any other application.
https://www.amazon.com/100tb-hard-drive/s?k=100tb+hard+drive
Bitcoin Cash emerges as a formidable contender against Bitcoin and Ethereum, not only for on-chain DeFi but also as a global currency and store of value accessible to the masses, free from exorbitant transaction fees.
Currently, Cauldron DEX serves more as a conceptual platform, with limited utility tokens. Notable exceptions include Furu and DogeCash, the former offering a price prediction game linked to Guru's NFTs and the latter being a meme token of uncertain value. Although Cauldron DEX is in its early stages, with few tokens demonstrating practical utility, the growth potential is evident. As an alpha tester, the low transaction fees make exploration worthwhile. Anticipating a future with a BCH backed by smart contracts, a Bitcoin Cash stablecoin, and centralized stablecoins issuing tokens on CashTokens, Cauldron DEX appears poised for a more substantial role in the evolving landscape of decentralized finance. Until then, the journey continues, and the game of exploration and experimentation persists.
https://www.cauldron.quest/
UPDATE:
I decided to sell all the DogeCash tokens that I bought for testing because I didn't like the distribution that the project was going to have. I will try to write an article in the future about my findings.
If you feel like sending me a CashToken tip please do so to the following address
bitcoincash:qpumc63zg8hwancqczkve86wld7hmfdrwqzge7u5m5
bitcoincash:zpumc63zg8hwancqczkve86wld7hmfdrwq9z2qjjy8