• NOW
PR: Token Creation Now Available on Bitcoin Cash via BITBOX - Bitmain Wormhole Partnership

PR: Token Creation Now Available on Bitcoin Cash via BITBOX - Bitmain Wormhole Partnership

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Bitcoin.com launches a powerful developer framework for token creation on the Bitcoin Cash blockchain, adding a significant rival to Ethereum, just days after Bitmain announced their Wormhole protocol.

Developed by Bitmain, Wormhole–an Omni Layer fork–represents the latest step in enabling crowdsales, tokenization, ICO creation, and permissionless smart contracts, all on Bitcoin Cash (BCH) and without altering BCH consensus rules.

The Wormhole protocol was unveiled by the bitcoin mining giant Bitmain on August 9th at the their BCH 1-Year Anniversary event in Hong Kong.

The new Wormhole SDK just published by Bitcoin.com adds an additional javascript framework, enabling every basic aspect of ERC20 functionality, including token creation, on the BCH blockchain.

Blockchain developers now have an alternative to Ethereum for creating tokens and ICOs.

Wormhole developers explain the software’s BCH OP_RETURN code is equivalent to the Omni Layer process, which is “the technical basis for daily distribution and circulation of USDT (Tether).” Similarly, Wormhole Cash (WHC) is a superset of BCH. Every Wormhole transaction is an on-chain BCH transaction with an OP_RETURN.

The BCH community has been clamouring for token creation systems, a gap that Wormhole developers sought to close with this series of interventions. Accordingly, WHC supports the creation of three kinds of tokens: fixed, crowdfunded, and manageable. Users can create WHC by using Wormhole protocol to send one or more BCH to the burn address. But burning BCH isn’t the only way to use WHC: Earlier this month, Coinex became the first trading platform to list the currency.

Lead Developer Jiazhi Jhang explained recently that Wormhole achieves security and consensus using BCH’s proof-of-work protocol and UTXO model. The UTXO application’s benefits, he says, include greater decentralization—as BCH offers decentralized timestamps for each transaction—and a higher TPS rate. Moreover, Wormhole’s two-layer security approach is founded on BCH transaction security.

Of Wormhole’s potential, BCH developer Gabriel Cardona says: “We see Wormhole as a solution to a number of problems, such as Turing-complete high-level scripting languages, smart contracts, ERC20 (ICO and crowdsale), and ERC721 (CryptoKitties) tokens.”

Of what’s already been achieved using Wormhole protocol, Cardona shares, “Already, we’ve created tokens with fixed supply and manageable supply, issued and revoked tokens, and created a custom token [Life Extension Token, LET] for a crowdsale.”

The Wormhole launch represents a paradigm shift in the potential for BCH-based innovation. Further possibilities for development are myriad—most notably token issuance and permissionless smart contracts. Wormhole is fully compatible with Bitcoin ABC version 0.17.2 and slated for an upgrade during the next regularly scheduled update.

Indeed, Wormhole developers are planning full speed ahead for 2019, with a full agenda of innovation. Future plans include upgrades known as Tropos–an update that will move towards protocol-based decentralized exchange systems–in November 2018; Ionize, in part an ERC721 integration plan, in January 2019; and Exosphere, which will make progress towards permissionless, global, and frictionless smart contracts, including the potential for a smart contract machine in the vein of Ethereum’s EVM.

For more information, contact:
Contact: Laura Dorwart
Phone: +19086983104
Email: media@bitcoin.com

Supporting Link

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Tags in this story
and permissionless smart contracts, BCH, BCH OP_RETURN, Bitcoin ABC, bitcoin cash BCH, Bitcoin.com, Bitmain, Crowdsales, decentralized exchange systems, ERC20 functionality, ERC721, Gabriel Cardona, ICO creation, LET, Life Extension Token, Omni Layer fork, tokenization, USDT (Tether), UTXO model, Wormhole, Wormhole SDK
Liven Announces Strategic Partnership with Bitcoin.com
Liven Announces Strategic Partnership with Bitcoin.com

Liven, the lifestyle rewards app that lets users spend and earn cryptocurrency rewards in over 1,000 restaurants across Australia, is… read more.

Bitcoin.com Announces Partnership With Telecommunications Manufacturer HTC
Bitcoin.com Announces Partnership With Telecommunications Manufacturer HTC

Bitcoin.com, one of the world’s oldest and most established cryptocurrency innovators with over 4.5 million wallet holders worldwide, and leading… read more.

Bitcoin.com PR

Bitcoin.com is your premier source for everything Bitcoin-related. We can help you buy bitcoins and choose a bitcoin wallet. You can also read the latest news, or engage with the community on our Bitcoin Forum. Please keep in mind that this is a commercial website that lists wallets, exchanges and other Bitcoin-related companies.