Bitcoin Cash (BCH) Network Launches BitcoinToken Project’s Alpha Version


Bitcoin Cash has launched a new contract together with a tokenization system on its cash network. Clemens Ley, a developer of Bitcoin Cash Network (BCH), released Bitcoin Tokens Alpha version on Oct. 31 which is a Javascript library. This revealed that it can be used to create contracts which are autonomous, tokens for BCH, and payments were also assimilated on the web application.

Alpha Version Launched on Bitcoin Token Project

It came into light on August through news.Bitcoin.com that software developer Clemens Ley had come up with a project known as Bitcoin Token. During this time, Ley stated that this was at prototype stage but his plan was to launch it before the year ends. An alpha version has now been created by the developer and this has so far been able to give the developers three working tools which would be vital on the assembly of BCH network applications. The three includes a database collection, wallet, and a token solution. So far 103 downloads have been recorded on the alpha version 0.0.1.

A publication showing documentation on how implementation was compiled was also released. It gives specifications which show programs tech-stack. The application build is depicted together with its abilities to tokenize, Bitdb, and a Javascript Bitcoin Cash Implementation source which is in a readable mode. The source code of the same has not been made available publicly but the developer can send the early version via Email to those interested. The developer states that the Alpha version can support Fungible tokens. These operates same as tokens of the Ethereum’s ERC-20. Smart contract Support currently is not available on Bitcoin token. 7

Project By Clemen Ley Makes it 5 BCH Token Projects

BCH community welcomed the project after news on its alpha version hit Twitter and on Reddit. As seen on Reddit, some came forth to like the project under the fact the it came as Wormhole alternative. Some commenters asked for reasons as to why the source code wasn’t available. The project has joined the other four token projects introduced to BCH network which include, Keoken, Simple Ledger Protocol, and Wormhole.

Bitcoin Token Protocol to use same system with ERC-20. However, tokens won’t clog up in the chain with coins of crypto-kittie. Ley has a strong believe that BCH chain can perform better compared to Ethereum Network which is a token process that has been coupled with scaling. He stated on twitter that BCH can do everything Ethereum does and cost lower by 10-100x.

Token Solution Revealed by Coingeek

Just a day after the Alpha version of Bitcoin Token was released, BCH proponents got news about another project which was developed by 5 developers namely Farid Uddeen, Samuel Georges, James Belding, Brendan Lee, and Scott Barr. It also came to light the 5 developers also won £5,000,000 ($6.4 million) prize at a tokenization contest which was hosted by Coingeek.

The press release shown that the new project actually uses technology that is also applied in BCH network but it lacks a website with an expectation of publishing its white paper soon. Press statement by Coingeek stated that technical specs will be made available probably mid-November.

After hard fork experience on may, BCH has seen a good number of smart projects and tokens developed with Bitcoin Token Alpha release being 5th which attempts to give its users tokenization abilities. A 6th project will be made available when Coingeek project gets released.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide