Bitcoin Cash Blockchain-based Simple Ledger Protocol Launches to Explore BCH Ecosystem

The Simple Ledger Protocol (“SLP”) is a tool that enables users to look through SLP tokens that are developed on the BCH chain. With this type of technology, users can analyze coin creation and token movements over a specific period of time.

Since SLP’s launch in 2018, and since then, a variety of tokens have been developed by BCH supporters. There is also the SLP token, which can be likened to a transaction within a transaction due to the storage of the token’s information in an output called OP_Return. The output is tethered to a very small fraction of BCH.

Interestingly enough, this has been a busy month for SLP token production, which has significantly increased. Blockpaty’s and Craft Cash’s developer also launched the SLP explorer to provide users with a look into the token development occurring on the network. With the platform, users can look through the tokens that have been developed on the blockchain. He discussed,

“Today marks the release of – an open source explorer for SLP tokens.”

Similar to other blockchain explorers, users can input the transaction ID in the search window and look for the token by characteristics such as token name or ticker. The page will then present the token transactions that could match.

The token explorer tool also applies Fountainhead Cash projects, Bitsocket and Bitdb, both of which were forked to the BCH network. This is just another showing that the applications are becoming a more prominent feature of the token economy. Tokendb’s team also presented a preview of an iOS mobile wallet that is in beta testing and that is specifically designed for SLP-based coins. According to a member of the development team,

“Beta testing a native iOS wallet and SDK for SLP Tokens built by – Amazing work by Jean-Baptiste Dominguez and crew.”

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