[ad_1]
Bitcoin Cash (BCH) has undergone a major upgrade allowing developers to create tokens with the same properties as BCH called ‘CashTokens’. The tokens can be issued by anyone using the network and the upgrade also includes support for future-proof multiparty vaults and improvements for transaction validation. BCH developer Jason Dreyzehner believes the CashTokens will have benefits in payments, commodities, and event tickets up to security vaults. Despite BCH’s surge due to the new upgrade, the price action was short-lived as the price almost instantly went back to the range before the upgrade.
This article originally appeared on cointelegraph.com
Bitcoin Cash (BCH) is a peer-to-peer digital currency that was forked from the original Bitcoin blockchain in 2017. Since then, Bitcoin Cash has been working to improve on the original Bitcoin protocol by addressing some of its shortcomings, such as scalability and transaction fees. Recently, Bitcoin Cash has announced a major upgrade on its network, enabling CashTokens to be used on its blockchain.
CashTokens are a type of token that were created to help facilitate cash transactions on the Bitcoin Cash network. These tokens are pegged to various fiat currencies, such as the US dollar or the Euro, and can be used to transfer value between users on the Bitcoin Cash blockchain. CashTokens can also be used to pay for goods and services, just like traditional fiat currencies.
The new upgrade on the Bitcoin Cash network allows CashTokens to be used as smart contracts, making it possible to add additional functionality to these tokens. For example, developers can create new smart contracts that allow CashTokens to be used for things like crowdfunding or asset issuance. This opens up a whole new world of possibilities for the Bitcoin Cash blockchain, and makes it more attractive to developers who are looking for a flexible and powerful blockchain platform to work on.
The ability to use CashTokens as smart contracts is a major step forward for the Bitcoin Cash network. It allows developers to create new and innovative applications that utilize CashTokens in ways that were not previously possible. This, in turn, will lead to an increase in adoption and usage of the Bitcoin Cash blockchain, which is good news for both users and investors in the cryptocurrency.
In addition to the upgrade enabling CashTokens as smart contracts, Bitcoin Cash has also made other improvements to its network. For example, it has implemented a difficulty adjustment algorithm that makes it easier for miners to earn rewards, which should help to keep the network secure. It has also made changes to the way that transactions are verified and propagated, which should result in faster and more reliable transactions.
Overall, the upgrade to Bitcoin Cash that enables CashTokens as smart contracts is a significant development for the blockchain network. It makes Bitcoin Cash more flexible and versatile, and opens up a wide range of new possibilities for developers and users alike. If you are interested in cryptocurrencies and blockchain technology, Bitcoin Cash is definitely worth keeping an eye on in the coming months.
[ad_2]
Source link