The Genesis of BCH Tokenization: Over 10,000 SLP Tokens Built on Bitcoin Cash

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This week Bitcoin Cash followers have been discussing the milestone of over 10,000 Easy Ledger Protocol (SLP) tokens created because the infrastructure was first launched. Furthermore, tokens constructed on Bitcoin Cash are nearing 1 million transactions to-date.

Bitcoin Cash (BCH) neighborhood members have seen there at the moment are 10,679 SLP tokens created because the Easy Ledger Protocol’s inception. The dialogue in regards to the SLP milestone occurred this week on the favored Reddit discussion board r/btc.

Along with the 10ok+ SLP tokens created, the quantity of transactions is nearing 1 million. Bitcoin.com token knowledge web page signifies there’s been 960,346 SLP-based transactions. Statistics present 2,250 SLP transactions had been recorded within the final 24 hours.

The Genesis of BCH Tokenization: Over 10,000 SLP Tokens Built on Bitcoin Cash

Presently, the highest 5 hottest tokens within the final 24 hours have been Refund Token, Mistcoin, MAZE, Spice, and Zapit. Nonetheless, 30-day stats present the highest 5 SLP tokens by use was Mistcoin, MAZE, Refund Token, TBS, and Zapit. Along with the 10ok SLP tokens minted to date, there’s been 13,353 token burns to-date as effectively. Burning is the act of taking the SLP tokens out of circulation.

Because the venture was launched, the SLP group is working with a quantity of tasks and infrastructure suppliers. This consists of exchanges, stablecoin issuers like Honestcoin and Tether, Bitcoin.com, an SLP hardware pockets, video games like Realmx, the digital promoting market Tribeos, the Spice Token ecosystem, SLP funds for Woocommerce, and lots of extra.

The Genesis of BCH Tokenization: Over 10,000 SLP Tokens Built on Bitcoin Cash

SLP improvement is bringing decentralized finance (defi) to Bitcoin Cash (BCH) as effectively with the upcoming introduction of the derivatives product Anyhedge, a venture developed by the Basic Protocols group. Moreover, the SLP trade Cryptophyl is restructuring right into a decentralized trade (dex) for BCH and is working with Basic Protocols as effectively.

Furthermore, some time again the SLP improvement group printed a quantity of bounties to additional the SLP ecosystem.

As an illustration, the bounty is for constructing a number of smart-contracts that present further safety to token issuers and paid out 500+ honestcoin (USDH). Moreover, over the past six months the SLP venture fashioned the SLP Basis and described how folks can leverage multi-signature administration with SLP tokens.

The Genesis of BCH Tokenization: Over 10,000 SLP Tokens Built on Bitcoin Cash

Moreover, because the Easy Ledger Protocol was invoked a quantity of tokens have gathered real-world worth.

Bitcoin.com’s SLP token index exhibits a complete of eight market caps together with tether (USDT). There are 6 million SLP-based USDT in existence however tether’s are additionally minted on a quantity of different chains.

Different prime SLP tokens featured available in the market cap index embody flexcoin (FLEX) with $29 million, gocrypto (GOC) with a $four million market cap, Courageous Sound Token (BRST) has an total valuation of $three.three million. That is adopted by honestcoin (USDH – $2.7M), ACD Coin (ACD – $2.3M), sai (SAI – $882ok), and spice coin (SPICE – $332ok).

The SLP Basis additionally introduced a partnership with the Blockhack World 2020 occasion scheduled for October. “[Six] weeks. BIG schooling [and] funding companions,” the SLP Basis tweeted on September 18. The Blockhack occasion is hosted by Bitbay and it’s a six week digital hackathon that begins on October 5 by November 14.

What do you concentrate on the expansion of the SLP token universe constructed on Bitcoin Cash to date? Tell us what you concentrate on this topic within the feedback part beneath.

Tags on this story
10ok SLP tokens, ACD, Anyhedge, BCH tokenization, BRST, Coinflex, DeFi, DEX, FLEX, Basic Protocols, GOC, Honestcoin (USDH), MAZE, million transactions, Mistcoin, Refund Token, Sai, SLP tokens, Spice, Stablecoins, TBS, expertise, Tether, tokenization, Tokens, Zapit

Picture Credit: Shutterstock, Pixabay, Wiki Commons, explorer.bitcoin.com, markets.bitcoin.com,

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