The Power of ETH and BCH: Smart Bitcoin Cash Project Highlights Innovative Sidechain Technology Bitcoin News – Bitcoin News

Posted: April 2, 2021 at 10:42 am

On Thursday, Bitcoin Cash proponents were introduced to a new website that features a project called Smart Bitcoin Cash or Smartbch for short. Essentially, the project is a sidechain for Bitcoin Cash that is compatible with Ethereums EVM and Web3 API, which means people will soon be able to leverage decentralized applications (dapps) without paying lots of money for transaction fees.

At the time of writing, Ethereum is the dominant chain when it comes to Web3 applications and decentralized finance. However, ethereum (ETH) fees to interact with a Web3 compatible dapp or some type of smart contract can be very expensive these days. The Smartbch project aims to change all that and the creators plan to make throughput as large as one billion gas every 15 seconds.

The new website called smartbch.org says the sidechain will essentially maximize throughput of EVM and Web3 tools. The website gives a person a comprehensive look at what Smart Bitcoin Cash aims to accomplish with a FAQ, documentation, community resources, and even jobs and bounties.

Smart Bitcoin Cashs innovation lies in libraries, the core components mentioned in the projects white paper notes. Instead of inventing fancy consensus and cryptographic algorithms, we decided to adopt another methodology: to develop low-level libraries with an aim to fully uncover the hardwares potential, especially its inherent parallelism. Ordinary users and developers are provided with a compatibility layer supporting EVM and Web3, so the optimized low-level close to the metal libraries themselves remain concealed by this layer of abstraction. During the implementation, we used the codename Moeing, which is added to the libraries names as prefix.

Smartbch leveraged five tools that will be greatly beneficial to the sidechains ecosystem. MoeingADS single-layer architecture, the MoeingEVM parallelized execution engine, the MoeingDB application-specific database, MoeingKV storage, and the MoeingAOT compiler for the EVM. The projects website notes that programmers can build a new playground for Bitcoin Cashs ecosystem and enlarge the user base.

Smartbch will also offer:

Bitcoin.coms newsdesk was the first to report on the Ethereum and Web3-compatible sidechain coming to Bitcoin Cash during the first week of March. Of course, the BCH community on Reddit loved the idea and many supporters wrote a comment about the project on r/btc.

We are working with the Smartbch team and have a test node running. Should have the Uniswap contract working this weekend, one programmer wrote on the forum. The first release of version 0.1.0 of Smartbch is now available and developers can help test a dapp on Smartbch. Programmers can also download the source code and start a single node testnet. At the time of publication, bitcoin cash (BCH) is exchanging hands for $560 per unit, up 2.3% during the last 24 hours.

What do you think about the Smartbch project and the Ethereum and Web3-compatible sidechain coming to Bitcoin Cash? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Smartbch

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read the rest here:
The Power of ETH and BCH: Smart Bitcoin Cash Project Highlights Innovative Sidechain Technology Bitcoin News - Bitcoin News

Related Post