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On Thursday, Bitcoin Cash followers discovered a new website with a project called Smart Bitcoin Cash, or Smartbch for short. Essentially, the project is a sidechain for Bitcoin Cash that is compatible with Ethereum EVM and Web3 API, meaning that people will soon be able to use decentralized applications (dapps) without paying a lot of money for transaction fees.
Bitcoin Cash fans introduced a single sidechain compatible with Ethereum and Web3
At the time of writing, Ethereum is the dominant blockchain for web3 applications and decentralized finance. However, an Ethereum (ETH) card to connect to a Web3 compliant dapp or some sort of smart contract can be very expensive these days. The Smartbch project aims to change that, and its creators plan to release up to a billion gases every 15 seconds.
According to a new website called smartbch.org, the sidechain will essentially provide maximum throughput to EVM and Web3 tools. The website gives a full picture of what Smart Bitcoin Cash is trying to accomplish with FAQs, documentation, community resources, and even jobs and bonuses.
The innovation of Smart Bitcoin Cash lies in its libraries, the core components mentioned in the notes in the project’s white paper. Instead of inventing fancy consensus and cryptographic algorithms, we chose a different method: developing low-level libraries to exploit the full potential of the hardware, especially its inherent parallelism. Ordinary users and developers have a compatibility layer that supports EVM and Web3, so the low-level, metallic optimized libraries themselves are hidden by this abstraction layer. In our implementation, we used the codename Moeing as a prefix to add to the library names.
Five instruments and many advantages
Smartbch has deployed five tools that will greatly benefit the sidechain ecosystem. MoeingADS single layer architecture, MoeingEVM parallel execution engine, MoeingDB dedicated database, MoeingKV repository and MoeingAOT compiler for EVM. The project’s website states that programmers can create a new playing field for the Bitcoin Cash ecosystem and expand its user base.
Smartbch will also :
EVM and Web3 are compatible and have a short locking interval to support defi applications.
Throughput will be up to one billion gases per 15 seconds, allowing more users to practice definition at a very low cost.
Designed from the ground up and composed of several low-level libraries that fully exploit the potential of the hardware, including its inherent parallelism.
Additional rewards for miners and Bitcoin Cash holders who can choose Smart Bitcoin Cash validators with chopped or blocked coins.
Develop robust, guardless bidirectional gateways that can support any type of Bitcoin Cash sidechain for secure BCH transfers on a bidirectional basis. This allows Bitcoin Cash to contain more sidechains for a richer ecosystem.
Bitcoin.com Newsroom first reported that Ethereum and Web3-compliant sidechains joined Bitcoin Cash in the first week of March. Naturally, the BCH community on Reddit loved the idea, and many supporters posted comments about the project on r/btc.
We are working with the Smartbch team and have started a test node. The Uniswap contract should work this weekend, a programmer wrote on the forum. The first version 0.1.0 of Smartbch is now available, and developers can help test dapps on Smartbch. Programmers can also download the source code and run a single test node. At the time of publication, Bitcoin Cash (BCH) is changing hands at $560 per unit, up 2.3% in the past 24 hours.
Photo credit: Shutterstock, Pixabay, Wiki Commons, Smartbch
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