What is smartBCH?

smartBCH is an EVM compatible Bitcoin Cash (BCH) sidechain, developed to enable easy migration of DeFi applications into Bitcoin Cash’s ecosystem where they could run fluently at low cost.

First, let’s take a look at sidechains in general.

A sidechain is a separate blockchain that is attached to its parent blockchain using a two-way peg. This two-way peg enables interchangeability of assets at a predetermined rate between the parent blockchain and the sidechain. The original blockchain is usually called the “main chain”, while all additional blockchains are referred to as “sidechains”. 

Sidechains are emerging mechanisms that allow tokens and other digital assets from one blockchain to be securely used in a separate blockchain and then be moved back to the original blockchain if needed. This is because the technical specification of an individual blockchain sometimes doesn’t align with the needs of a specific project, e. g. timely confirmations due to block sizes or high processing costs. That’s where sidechains come into place. Sidechains come in different forms depending on the functions they are built for. Their functionality holds enormous potential to improve the capabilities of existing blockchains.

Now, let’s dive into smartBCH!

Lead developer Wang Kui envisioned the smartBCH as blocks that would give full play to the ability of the computing system itself. He was searching for a mechanism that would line up with the original vision of Satoshi, which is to “serve as many people as possible“. He achieved this vision by constructing smartBCH from several low-level libraries which fully leverage the potential of hardware.

If we get a bit more technical, forks of the Go-Ethereum (Geth) protocol, like Binance Smart Chain or Avalanche, take over the traffic spilling out of Ethereum due to Gas fees being too expensive. While with smartBCH, developers didn’t fork from Ethereum. Their aim was to support the on-chain users to expand multiple times, which would allow more non-crypto users to come in. It’s true that BSC and Avalanche offer cheap gas fees at the early stage, but as transactions increase or token price grows, users could experience higher transaction fees, just like they do on Ethereum. smartBCH promises to avoid such scenarios. When traffic grows, smartBCH developers will use optimization software to achieve high transactions while maintaining low fees. Fees with smartBCH account to only about 3 cents per transaction, which makes it among the least expensive EVM sidechain on the market. In comparison, every Ethereum transaction will cost between $15-$200, especially when the network experiences high traffic.

To sum up, Ethereum seeks to solve its high gas fees in subtle ways like sharding and rollups. The idea behind smartBCH is that a single chain can achieve high performance with better operability, interaction, and user experience.

In addition, smartBCH is compatible with Ethereum’s EVM and Web3 API and provides high throughput for DApps in a fast, secure, and decentralized manner. Because of its short block intervals, the launch of smartBCH triggered a noticeable development boost of DeFi, DEXs, NFTs, and Dapps.

We should keep in mind that smartBCH is still quite new and has a long way to go. As with all blockchain projects we cannot wait to see what the future will bring. If you are interested in more information about smartBCH, you can read their Whitepaper.

GoCrypto issued on smartBCH chain

The GoC smartBCH is already available on the GoC Bridge, meaning that the GoCrypto token now runs on the smartBCH chain as well as on SLP and Binance Smart Chain. 

Despite the fact that GoC is issued on three blockchains simultaneously, this does not affect the total GoC supply. The total supply remains at 299,095,759 GoC, with no additional changes — no matter how many chain implementations the GoC token supports in the future.

The GoC smart contract on the smartBCH network can be viewed on the smartScan.

GoC smartBCH contract address: 0x4b85a666dec7c959e88b97814e46113601b07e57

What is GoC Bridge?

GoC Bridge is a service that allows fast and secure bi-directional swaps of the GoCrypto (GoC) token between the SLP protocol on the Bitcoin Cash blockchain (BCH), Binance Smart Chain (BSC), and Smart Bitcoin Cash chain (smartBCH).

To start using our multi-chain bridge and to learn more about how it works, visit the GoC Bridge website.

You’re also invited to stay up to date with all GoC news and its community by joining our Telegram group. Become part of our story and buckle up! It’s going to be a wild ride on the roller-coaster we call the crypto industry!

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