@stewbits22 3 October 2022

Work continues quietly to develop main chain BCH functionality. Jason Dreizehner is developing cash tokens which will allow trustless smart contracts leading to decentralised exchanges on the main chain. Here is his first post on the idea. https://bitcoincashresearch.org/t/chip-2022-02-cashtokens-token-primitives-for-bitcoin-cash/725 CHIP 2022-02 CashTokens: Token Primitives for Bitcoin Cash CHIPs Standards Track consensus draft bitjson 2 Feb 22 This proposal enables two new primitives on Bitcoin Cash: fungible tokens and non-fungible tokens. Bitcoin Cash contracts lack primitives for trustlessly issuing transferable, contract-verifiable messages, limiting coordination strategies available to multi-party contracts and covenants 8. By enabling token primitives on Bitcoin Cash, this proposal offers several benefits. Cross-Contract Interfaces Using non-fungible tokens (NFTs), contracts can trustlessly commit to messages which can be consumed by other contracts. These messages are impersonation-proof: other contracts can safely read and act on the commitment, certain that it was produced by the claimed contract. This primitive enables covenants to expose public interfaces – paths of operation intended for other, not-yet-developed contracts. Decentralized Applications Beyond enabling covenants to interoperate with other covenants, these token primitives allow for byte-efficient representations of complex internal state – supporting advanced, decentralized applications on Bitcoin Cash. Fungible tokens are critical for covenants to efficiently represent on-chain assets – e.g. voting shares, utility tokens, collateralized loans, prediction market options, etc. – and to efficiently implement complex coordination tasks 2 – e.g. liquidity-pooling, auctions, voting, sidechain withdrawals, spin-offs, mergers, and more. Non-fungible tokens are critical for coordinating activity trustlessly between multiple covenants, enabling covenant-tracking tokens 2, depository child covenants 2, multithreaded covenants 1, and other constructions in which a particular covenant instance must be authenticated. Universal Token Primitives By exposing basic, consensus-validated token primitives, this proposal supports the development of higher-level, interoperable token standards (e.g. SLP 1). Token primitives can be held by any contract, wallets can easily verify the authenticity of a token or group of tokens, and tokens cannot be inadvertently destroyed 2 by non-token-aware wallet software. The full specification is tracked in a repository on GitHub: GitHub GitHub - bitjson/cashtokens: A proposal to enable two new primitives on... 20 A proposal to enable two new primitives on Bitcoin Cash: fungible tokens and non-fungible tokens. - GitHub - bitjson/cashtokens: A proposal to enable two new primitives on Bitcoin Cash: fungible to... Deployment of this specification is proposed for the May 2023 upgrade, and requires upgrades only to full nodes. I’ve also written a short blog post to summarize the main ideas: bitjson's blog – 22 Feb 22 CashTokens (v2): Token Primitives for Bitcoin Cash 16 CashTokens enable decentralized applications comparable to Ethereum contract functionality, while retaining Bitcoin Cash's >1000x efficiency advantage in transaction and block validation.