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smartBCH for DUMMIES #1 :::: Getting Started

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Avatar for k1ll1van1ll1
Written by   21
1 month ago (Last updated: 2 weeks ago)
Topics: SmartBCH, Tutorial, FAQ, Defi, NFT, ...

Welcome everyone to my new project smartBCH for DUMMIES!

INDEX

  1. #1 GETTING STARTED

  2. #2.1 SETTING UP A WALLET (PC)

  3. #2.2 SETTING UP A WALLET (ANDROID)

  4. #3 TRANSFER BCH IN & OUT


As I did my researches about smartBCH it became clear that there is still lots of confusion in our Bitcoin Cash (BCH) community what this is all about. I will publish several guides to address this issue and make sure everybody will understand and be able to use smartBCH without having any doubts or questions. At the end of this series we will create our own Token and if you follow this, you will be able to create your very own Token! Even if you are very new to Crypto

In this first part we cover following things and I will explain it as easy as possible.

  1. What is smartBCH?

  2. Why do we need smartBCH?

  3. What changes does it bring to BCH?

  4. Additional Notes

What is smartBCH?

smartBCH is a sidechain to Bitcoin Cash (BCH), operating on Layer 2 of the main blockchain. Due to its Ethereum (ETH) EVM3 & WEB3 compatibility it opens doors for DeFi, NFT and many more while still having any benefits of the Proof of Work (PoW) mainchain mechanics. They help decreasing inflation with burning a part of all fees.

Did you read stuff like this before and still have no idea what is going on? Lets put it in other words.

Mr. A (Bitcoin Cash, mainchain) is a forester and he is searching for Mr. C (EVM3 & WEB3, Smart contracs) to take his wood and build some nice furniture out of it. Unfortunately Mr. A is only speaking Spanish and Mr. C only speaks Russian. They can't work together because they can't communicate... this is when Mr. B (smartBCH, sidechain) arrives. Mr. B speaks Spanish as well as Russian and is our middle man for everything.

Of course Mr. B can't do everything for free, this is why he get paid a little commision (fee) of Mr. A and Mr. C. Thankfully Mr. B is a very wealthy person and decided to always puts his commision in a safe and never touches it again. (Token burn)

As we keep it very simple in this #1 part, we get closer into Defi, NFT and smart contracts in general another time.

Why do we need smartBCH?

Since the release of Satoshi Nakamotos whitepaper and the birth of Cryptocurrencies many things changed . Satoshi was a mastermind and gave the possibilites to grow with time and smartBCH is our time machine.
Without smartBCH we are quite limited in usecases. Bitcoin Cash still works perfect as Cash and a store of value, but our ecosystem could not grow and adopt to modern worlds needs.

Bitcoin Cash is a coffee shop, but they only serve water and coffee. No milk, no sugar, nothing.

smartBCH is also a coffee shop, they buy their water and coffee of Bitcoin Cash. But they also offer to add milk and sugar to the coffee as well as a slice of lemon for your water.

What changes does it bring to Bitcoin Cash?

We already covered the very basics on a technical side, so just look at the big whole.

More and more people discover the truth that Bitcoin Cash actually should be called Bitcoin. Satoshi always wanted a fast, low fee, peer to peer (p2p) currency. Unfortunately Bitcoin is none of that anymore. It is slow, expensive and nobody wants to use a slow and expensive p2p currency. This is why there was a fork and Bitcoin became Bitcoin Cash.

Bitcoin (BTC): slow, expensive, unflexible, secure.
BitcoinCash (BCH): fast, cheap, unflexible, secure.
BitcoinCash + smartBCH: fast, cheap, flexible, secure.

Having that said, BCH with smartBCH combines the benift of currently most valued Cryptocurrencies Bitcoin & Ethereum.

https://www.marketcap.cash/

With smartBCH BitcoinCash can explore more markets, gets a bigger audience and even more possibilities to make it the P2P Cash our worlds needs and wants! I am sure Satoshi is watching somewhere, proud of us and disappointed by the Bitcoin Maxis.

If you made it this far, I would like to Thank you very much! You mastered the first step in our smartBCH journey. In the next part we will create our own smartBCH wallet and connect to the smartBCH mainnet. (Windows & Android)

Additional notes:

At the end of this series I will make a NFT giveaway (on smartBCH of course). I don't want to create tasks to be eligable for this giveaway, but I would love to give it away to a group of people that started their smartBCH experience just right here with these guides.

Please subscribe and like if you like my content.
Leave a comment if you have any questions or suggestions

Helpful links:

Marketcap.cash <<<< -- >>>> SmartBCH Charts
HelpMe.Cash <<<< -- >>>> Everything related smartBCH in 1 place
Fountainhead.Cash <<<< -- >>>> Graphical Charts about smartBCH
Smartscan.Cash <<<< -- >>>> Blockchain explorer
Tuxpaper.nu <<<< -- >>>> Token Transfer scanner

SmartBCH Homepage
SmartBCH Telegram
SmartBCH Twitter

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Avatar for k1ll1van1ll1
Written by   21
1 month ago (Last updated: 2 weeks ago)
Topics: SmartBCH, Tutorial, FAQ, Defi, NFT, ...
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Comments

Maybe you should list ETH features where you list BTC, BCH, and BCH+SmartBCH features?

$ 0.00
1 month ago

Yeah I basically did, switchting unflexible into flexible. Will definitly cover this in detail, but I am trying to keep it short and with the most important information, so you dont get tired of reading and can keep all informations given. :)

$ 0.00
1 month ago

No, I ETH isn't in the list. I was looking for your take on ETH compared to BTC and BCH in addition to ETH compared with BCH+SmartBCH.

$ 0.05
1 month ago

Ahh, now I see where you comming from. Sorry.

I will not get to close into ETH, but what will be covered are the interfaces between SmartBCH & ETH. But this is no top priority thing, too technical. My goal with this is to give everyone an idea what is going on with SmartBCH & BCH, on the most simple way but still with keywords you can educate yourself on.

I think my main audience with this blog will be people with zero to very little crypto understanding. There are still lots of articles for Crypto folks, I most likely will not repeat this.

Your comments are highly appreciated though. Will see how and when I can cover ETH/sBCH.

$ 0.00
1 month ago

I have already started my SmartBCH journey, but I have a lot to learn. And thanks for the list of helpful links. You've explained it in a very simple way :) Thanks for sharing this!

$ 0.00
1 month ago

The concept is as such. SmartBCH is indeed the coating to our coffee. Tuxpaper.nu is really helpful. I haven't mentioned it and was planning to, later. Well done.

$ 0.00
1 month ago

Looking forward to your Tuxpaper review 😊

$ 0.00
1 month ago

It is very simple, I was only going to mention it, as you did.

$ 0.00
1 month ago

I enjoyed everything you published so far so please don't let you stop from doing it because I mentioned it. You reach more and other people anyway!

$ 0.00
1 month ago