Bitcoin Cash (BCH) jumps 6% ahead of CashTokens Fork

[ad_1]

Bitcoin Cash (BCH) prices jumped 6% ahead of a mainnet upgrade that will allow developers to issue tokens atop the network, among other improvements.

The hard fork is expected around noon UTC time on Monday. A hard fork refers to an upgrade in any blockchain network. Bitcoin Cashs May hard fork is set to bring additional security and privacy to the fledgling network, with plans for CashTokens that would enable decentralized applications directly on top of Bitcoin Cash, according to the developers.

Other proposed improvements already locked in include smaller transaction sizes that help speed up transaction times and smart contract functionality that could allow Bitcoin Cash-based apps to offer recurring payments, derivatives trading, and more. crowdfunding opportunities, among other uses, to Bitcoin Cash users.

This development follows a growing interest in tokens issued on Bitcoin: the recently launched Bitcoin Request for Comment (BRC20) tokens.

These standards allow developers to issue DeFi tokens and applications natively on Bitcoin, which has spurred a collection of digital artworks and meme tokens built on Bitcoin in recent weeks.

Data from OrdSpace, which tracks BRC-20 data, shows more than 11,000 tokens issued on Bitcoin are available on the open market as of Monday with a cumulative market capitalization of $500 million, up from 1.5 billion earlier this week.

[ad_2]