BCH as an app platform

Discussion in 'Bitcoin Cash (BCH)' started by CryptoTC, Aug 1, 2018.

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  1. CryptoTC

    CryptoTC Crypto Fat Cat
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    Coindesk article today.

    One Year Later, A Wave of Apps Is Emerging on Bitcoin Cash - CoinDesk

    Right now apps such as Gitcash for tipping and Memo.cash for users to post short messages stored on the BCH blockchain are somewhat basic, but smart contracts, tokens and more could roll out on the BCH blockchain. Interesting developments after the contentious hard fork last year creating the new chain with larger blocks.

    Some random excerpts:

    Looking through the applications that have sprung up, it's clear that those drawn to bitcoin cash are trying to carve out a unique role for the cryptocurrency – one that aligns with the initial value proposition touted.

    Many of the applications target users with cheaper, faster payments, like Blockpress, a social media platform, and Centbee, a wallet that uniquely integrates a user's phone list.

    But there's also some work being done to make bitcoin cash a more complex blockchain, able to handle smart contracts and token launches.

    ———————————-

    And a couple weeks ago, cryptocurrency mining giant Bitmain released a proposal for adding a token mechanism to bitcoin cash, perhaps eerily dubbed "Wormhole."

    The idea with behind these proposals is to make it possible to spin up new tokens on bitcoin cash.

    But just as ICOs broadly have taken vast amounts of criticism, the idea is sparking controversy among bitcoin cash users and developers too. Some have argued that the birth of tokens on the network will poorly impact the protocol and even worse, could introduce vulnerabilities that could put users at risk.
     
    Old Man Crypto and The CC Forums like this.
  2. The CC Forums

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    Interesting read. Thanks.

    At least a lot of development continues despite the market drops of 2018 across all coins. Good to see.
     
  3. Old Man Crypto

    Old Man Crypto Expert chainblocker

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    Bitcoin cash is becoming a stronger competitor in crypto. I like it over litecoin. Not sure it becomes more than a payment coin though.
     
  4. CryptoTC

    CryptoTC Crypto Fat Cat
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    I think the focus going forward will be on coins and chains that can do more than serve as a payment system. Smart contracts, utility, functioning apps with an underlying micropayment system, games and more. Right now the world can use crypto to send anywhere; that function is too simple. Crypto survivors will have to do much more than just send money.
     
  5. Old Man Crypto

    Old Man Crypto Expert chainblocker

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    Fair enough. It seems bitcoin and bitcoin cash are behind others then. And where does XRP fit into that, is their payment platform enough utility? Litecoin too? I’m guessing the world won’t have good smart contract apps for 5 years. Too many legal hurdles. Micro payment games could be important though. But not for bitcoin cash probably but Ethereum like crypto kitties.
     
  6. CryptoTC

    CryptoTC Crypto Fat Cat
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    Bitcoin cash wasn’t starting from scratch last year, it had the entire 9 years of bitcoin development behind it before forking. So developers aren’t starting behind Ethereum or the others.

    Bitcoin cash taking a hit today with everything else.
     
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