Bitcoin News and Finance Cashtokens Upgrade 3 Months Out: BCH Developers Building NFT Creator Studio, Marketplaces, Wallets, and More Skip to main content

Cashtokens Upgrade 3 Months Out: BCH Developers Building NFT Creator Studio, Marketplaces, Wallets, and More

Cashtokens Upgrade 3 Months Out: BCH Developers Building NFT Creator Studio, Marketplaces, Wallets, and More

With the Bitcoin Cash network’s May 15 Cashtokens upgrade now three months behind us, bustling development in non-custodial wallets, marketplaces, non-fungible tokens (NFTs), games, and other applications continues unabated. Paytaca wallet CEO Joemar Taganna notes that “improvements in consensus building” and “new and powerful upgrades to the protocol” showcase several parties “working together to make the peer-to-peer cash revolution happen.”

Little Green Monsters, Gurus, Cats, and Prediction Markets

After the May 15, 2023 Bitcoin Cash upgrade, which effectively enables smart contracts onchain for BCH by utilizing unspent transaction outputs (UTXOs), much development has been ongoing on the network surrounding Cashtokens, a feature that has inspired the creation of numerous non-fungible tokens (NFTs) and marketplaces like tapswap.cash.

NFT sales and trading activity are still modest compared to other networks, with marketplaces in their nascent stages, and decentralized exchanges (dexs) in test phases. That notwithstanding, development has been occurring at an industrious pace in the background, as advocates of Cashtokens point to the power of the upgraded chain to enable even more types of permissionless peer-to-peer exchange directly onchain, for lower fees than other leading protocols. Some NFT collections of note include Emerald DAO, Bitcats Heroes Club, and BCH Gurus.

As developer Jason Dreyzehner mentioned to Bitcoin.com News back in May: “Suddenly it was possible to build very efficient, UTXO-based decentralized applications while preserving important features of Bitcoin Cash: stateless transaction validation (low fees) and zero-delay re-spending (fast transactions).”

Paytaca, creator of the Cashtokens-friendly Paytaca wallet, is now working on a tool to enable anyone to create their own NFTs via a project called Cashtokens Studio. CEO of Paytaca Joemar Taganna is also involved with the Bitcats Heroes Club NFTs. Taganna told Bitcoin.com news:

There is a need now for a tool for the general public that will allow anyone to create tokens using the Cashtokens protocol. Currently, the process is largely manual, so it is tedious and error-prone. That’s why we are building Cashtokens Studio.

One popular NFT project springing up after the May upgrade has been the BCH Gurus. This project is a multi-dimensional NFT endeavor which is currently building price prediction games fueled by NFTs and other tokens on the new protocol.

“The Cashtokens upgrade has allowed for an entirely new ecosystem to develop directly on Bitcoin Cash mainchain,” the BCH Guru Team told Bitcoin.com News via Telegram, elaborating: “The BCH Guru combines the fun and addictive element of a uniquely designed NFT collection, along with a fungible token (Furu), allowing users to play price prediction games onchain through a Cashtokens smart contract.”

Community and Tech Developments, Crypto Custody Ethos

Noting that Cashtokens’ simple token primitives “that can allow you to create most (if not all) of defi applications you see in other chains” will require some tooling developed from scratch, Taganna says his group is “happy to take on part of that huge challenge.” Speaking of Bitcoin Cash development over the last few years, the Paytaca CEO notes:

“The BCH community is becoming more vibrant and productive, a breath of fresh air from the prior years of political conflict leading to splits. We now have individuals, dev teams, and entrepreneurs, supported by well-aligned donors / investors, all working together to make the peer-to-peer cash revolution happen.”

Part and parcel of refusing to compromise on Satoshi Nakamoto’s vision for a money which can’t be censored and can be traded with no need for a financial institution — an ethos enthusiastically championed by many in Bitcoin Cash communities — is keeping complete control over one’s crypto. Non-custodial bitcoin cash wallets supporting the Cashtokens upgrade include Paytaca, Electron Cash, Cashonize, and Zapit.

What are your thoughts on this story? Be sure to let us know in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory