Bitcoin Cash enables CashTokens upgrade on its network

The Bitcoin Cash (BCH) network underwent a significant upgrade on May 15, permitting developers to create tokens with the exact same residential or commercial properties as BCH. The network successfully upgraded the blockchain at the block height of 792,772. Congrats on the 2023 upgrade, Bitcoin Cash!

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The designer highlighted that CashTokens could be used for numerous applications, from payment stablecoins and products to gift cards and occasion tickets. Dreyzehner likewise pointed out that its underlying innovation would make innovative on-chain applications possible. This includes decentralized exchanges (DEXs), security vaults and bridged sidechains. Related: Ordinals good or bad for Bitcoin? Opposers and supporters raise voicesThe price of BCH surged on the very same day due to the new update. Data reveals that the tokens went from $114 to a high of $120 on May 15. Despite the buzz, the rate action was temporary as the price nearly immediately returned to the $113 to $114 range after the upgrade. Bitcoin Cash cost index from May 14 to May 16. Source: CointelegraphThe CashTokens upgrade on the Bitcoin Cash network comes as BRC-20 tokens became progressively more popular. On May 9, BRC-20 tokens went beyond a $1 billion market capitalization. The explosive development came two months after the Bitcoin token fungibility protocol was developed, and was sustained by the development of tokens like ORDI, NALS, VMPX, PEPE and MEME.While the new advancement proves exciting for lots of, it featured a new set of problems for the network. On May 10, CryptoQuant analyst Axel Adler Jr expressed that increased fees and a stockpile of deals have actually besieged the Bitcoin network because of the brand-new token standard. Magazine: $3.4 B of Bitcoin in a popcorn tin: The Silk Road hackers story

The Bitcoin Cash (BCH) network underwent a significant upgrade on May 15, enabling developers to create tokens with the very same homes as BCH. The network successfully upgraded the blockchain at the block height of 792,772. Congrats on the 2023 upgrade, Bitcoin Cash! Source: CointelegraphThe CashTokens upgrade on the Bitcoin Cash network comes as BRC-20 tokens ended up being significantly more popular.