+1.00% Bitcoin (BTC) 95433.7 EUR
-1.24% Ethereum (ETH) 3706.16 EUR
+1.15% Litecoin (LTC) 95.97 EUR
+5.97% B-Cash (BCH) 520.37 EUR
-2.41% Ethereum (ETH) 0.0391981 BTC
-0.09% Litecoin (LTC) 0.00101505 BTC
+4.82% B-Cash (BCH) 0.00546006 BTC
+0.78% Bitcoin (BTC) 112222.6756 USDC
+0.17% USD Coin (USDC) 0.85 EUR
+0.37% Chainlink (LINK) 20.17 EUR
-0.67% Chainlink (LINK) 0.00021236 BTC
+2.13% Dogecoin (DOGE) 0.18 EUR
+0.51% Dogecoin (DOGE) 0.00000196 BTC
-0.23% Uniswap (UNI) 8.19 EUR
-2.29% Uniswap (UNI) 0.00008605 BTC
+1.66% Cardano (ADA) 0.72 EUR
+0.80% Cardano (ADA) 0.00000755 BTC
-0.35% Tron (TRX) 0.29 EUR
-1.60% Tron (TRX) 0.00000306 BTC
+1.03% Shiba Inu (SHIB) 0.00001072 EUR
+0.53% Zcash (ZEC) 35.63 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
-1.63% Basic Attention Token (BAT) 0.13 EUR
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
+1.59% Arbitrum (ARB) 0.496 USDC
+0.09% Chainlink (LINK) 23.27 USD
+0.12% Chainlink (LINK) 23.23542 USDC
-0.43% Uniswap (UNI) 9.433 USDC
+5.80% Ondo (ONDO) 0.83 EUR
+5.30% Ondo (ONDO) 0.96315 USDC
+0.80% Gala (GALA) 0.01 EUR
+1.01% Gala (GALA) 0.01602 USDC
-0.73% Wormhole Token (W) 0.06 EUR
0.00% Wormhole Token (W) 0.0791 USDC
-0.82% Chiliz (CHZ) 0.03 EUR
-1.59% Chiliz (CHZ) 0.03893 USDC
+0.68% Sand (SAND) 0.23 EUR
+0.91% Sand (SAND) 0.2751 USDC
+1.45% Aave (AAVE) 271.39 EUR
+1.53% Aave (AAVE) 315.76 USDC
-0.48% Curve DAO (CRV) 0.65 EUR
-0.73% Curve DAO (CRV) 0.7595 USDC
-0.06% Immutable X (IMX) 0.43 EUR
-0.45% Immutable X (IMX) 0.5119 USDC
-1.02% Synthetix Network Token (SNX) 0.57 EUR
-0.73% Synthetix Network Token (SNX) 0.672 USDC
0.00% Skale (SKL) 0.07 USDC
+4.02% Beam (BEAM) 0 EUR
+3.74% Beam (BEAM) 0.00721 USDC
0.00% Axelar (AXL) 1.05 USDC
-1.54% Livepeer Token (LPT) 5.71 EUR
-1.81% Livepeer Token (LPT) 6.649 USDC
+0.43% Compound (COMP) 36.96 EUR
+0.39% Compound (COMP) 42.94 USDC
-1.96% Yield Guild Games Token (YGG) 0.13 EUR
-2.73% Yield Guild Games Token (YGG) 0.1527 USDC
+0.45% Coti (COTI) 0.04 EUR
-2.68% Coti (COTI) 0.0507 USDC
0.00% Portal (PORTAL) 1.1 USDC
-0.24% Sushi (SUSHI) 0.65 EUR
-1.19% Sushi (SUSHI) 0.7592 USDC
-0.95% Pepe (PEPE) 0 EUR
-1.32% Pepe (PEPE) 0.0000097 USDC
+0.01% Optimism (OP) 0.6 EUR
0.00% Polygon (MATIC) 0.2 EUR
+0.60% Solana (SOL) 175.04 EUR
-1.30% Solana (SOL) 0.0018357 BTC
+3.32% Solana (SOL) 0.047016 ETH
+1.01% USD Coin (USDC) 0.74 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

Bitcoin Cash enables CashTokens upgrade on its network

05-16-2023

Bitcoin Cash developer Jason Dreyzehner states that the latest upgrade incorporates support for CashTokens, which he considers a “tool for expanding financial access.”

The Bitcoin Cash  BCH tickers down $116 network underwent a major upgrade on May 15, allowing developers to create tokens with the same properties as BCH. The tokens — called “CashTokens” — can be issued by anyone using the network. 

The network successfully upgraded the blockchain at the block height of 792,772. According to BCH developer Jason Dreyzehner, the new upgrade includes support for CashTokens, which the developer believes to be a “tool for expanding financial access.” The upgrade also has features like future-proof multiparty vaults and technical improvements for transaction validation.

The developer highlighted that CashTokens could be used for various applications, from payment stablecoins and commodities to gift cards and event tickets. Dreyzehner also mentioned that its underlying technology would make advanced on-chain applications possible. This includes decentralized exchanges (DEXs), security vaults and bridged sidechains. 

The price of BCH surged on the same day due to the new update. Data shows that the tokens went from $114 to a high of $120 on May 15. Despite the hype, the price action was short-lived as the price almost instantly returned to the $113 to $114 range after the upgrade.

The CashTokens upgrade on the Bitcoin Cash network comes as BRC-20 tokens become increasingly popular. On May 9, BRC-20 tokens surpassed a $1 billion market capitalization. The explosive growth came two months after the Bitcoin token fungibility protocol was created and was fueled by the growth of tokens like Ordi (ORDI), Nals (NALS), VMPX (VMPX), Pepecoin (PEPE) and Meme (MEME).

While the new development proved exciting for many, it came with a new set of problems for the network. On May 10, CryptoQuant analyst Axel Adler expressed that increased fees and a backlog of transactions have besieged the Bitcoin network because of the new token standard.

Source: Cointelegraph.

More from this category

Bitcoin miners could dump $5B in BTC after halving: 10x Research

04-15-2024

Bitcoin miner selling could last for four to six months after the halving, amounting to as much as $5 billion worth, according to an analyst. There could be a large outflow of Bitcoin BTC $64,883 fr...

Paraguay to reconsider Bitcoin mining ban, mulls selling energy to miners

04-11-2024

Paraguay’s lawmakers have proposed an alternative to a controversial Bitcoin mining blanket ban and are set to debate the topic later this month. Paraguayan senators have halted progress on the propo...

Bitcoin 5% flash crash leads to $165M in leveraged crypto liquidations

04-02-2024

Leverage traders are nursing losses of over $165 million as the price of Bitcoin tumbled 5%. A sudden 5% drawdown in the price of Bitcoin BTC $66,894 on Tuesday has seen traders with leveraged expos...