{"id":21014,"date":"2023-05-16T22:08:15","date_gmt":"2023-05-16T22:08:15","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/over-26000-tokens-created-defi-bitcoin-news\/"},"modified":"2023-05-16T22:08:15","modified_gmt":"2023-05-16T22:08:15","slug":"over-26000-tokens-created-defi-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/over-26000-tokens-created-defi-bitcoin-news\/","title":{"rendered":"Over 26,000 Tokens Created \u2013 Defi Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Following the recent Bitcoin Cash upgrade on Monday, data reveals that approximately 1,308 fungible tokens and 25,336 non-fungible tokens (NFTs) have emerged on the blockchain. Moreover, the Cashtokens token ecosystem is now accessible through the blockchain explorers 3xpl.com and salemkode.com, allowing users to explore its potential.<\/strong><\/p>\n

Bitcoin Cash Upgrade Unleashes Token Frenzy and Infrastructure Support<\/h2>\n

As of May 15, 2023, Bitcoin Cash advocates have unlocked a new realm of possibilities with the highly anticipated annual upgrade<\/a>. Now, they have the power to mint and engage in transactions involving tokens built on the Bitcoin Cash blockchain. The Cashtokens development<\/a> allows token creation and transactions to be verified by the BCH<\/a> network, running alongside traditional financial activities.<\/p>\n

Several wallets compatible with BCH<\/a> have already embraced the Cashtokens infrastructure, and crypto enthusiasts can select a Cashtokens-focused wallet through the web portal bestbchwallets.com<\/a>. Blockchair\u2019s lead developer, Nikita Zhavoronkov, recently shared the experience of jumping into the realm of Cashtokens. In a tweet<\/a>, Zhavoronkov expressed enthusiasm, stating that \u201cplaying with Cashtokens for the last day\u201d has been nothing short of captivating.<\/p>\n

\"Cashtokens
The number of fungible tokens and non-fungible tokens minted on the Bitcoin Cash blockchain, according to the 3xpl.com explorer on May 16, 2023, at 1:30 p.m. Eastern Time.<\/figcaption><\/figure>\n

Zhavoronkov emphasized the superior efficiency of BCH-native tokens compared to contracts built atop other blockchains, citing reduced fees as a significant advantage. However, the developer also highlighted a fundamental difference when working with Cashtokens, urging developers to discard their preconceived notions about Ethereum\u2019s ERC20s.<\/p>\n

\u201cUnlike with ERC-20 and ERC-721, it\u2019s possible to send both [fungible tokens] and some NFTs within a single output,\u201d Zhavoronkov stated. The Blockchair developer\u2019s thread added:<\/p>\n

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There are no \u2018contracts,\u2019 token ids are now called \u2018categories.\u2019 The transfer structure follows the UTXO model. For token details, it\u2019s proposed to have the Metadata Registry.<\/p>\n<\/blockquote>\n

Zhavoronkov also recommended<\/a> the BCH<\/a> community embark on an exploration of Cashtokens with the 3xpl.com explorer<\/a>. The developer said: \u201cIt\u2019s super fast, adless (no more \u201cdouble your bitcoins\u201d ads), private, open-source, and with lots of pro features for devs [and] analysts.\u201d Complementing the 3xpl.com explorer, users can also harness the salemkode.com explorer<\/a> to delve into the realm of Cashtokens and explore associated transactions.<\/p>\n

Ever since the upgrade took effect at block height 792,772, Bitcoin Cash users have been enthusiastically minting Cashtokens. According to statistics<\/a> provided by the 3xpl.com explorer, 1,308 fungible tokens and 25,336 non-fungible tokens (NFTs) have sprung to life within the last 24 hours, marking a surge in token creation on the Bitcoin Cash blockchain.<\/p>\n

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26000 tokens<\/a>, BCH Network<\/a>, bitcoin cash<\/a>, Blockchain Explorers<\/a>, blockchain upgrade<\/a>, Cashtokens<\/a>, cryptocurrency wallets<\/a>, DeFi<\/a>, developer insights<\/a>, FTS<\/a>, fungible tokens<\/a>, NFTs<\/a>, Non-fungible tokens<\/a>, Non-fungible-tokens (NFTs)<\/a>, Token Creation<\/a>, token ecosystem<\/a>, Tokens<\/a><\/div>\n<\/div>\n

What are your thoughts on the exponential growth of Cashtokens and their impact on the Bitcoin Cash ecosystem? Share your insights and token creation experiences in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, 3xpl.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.<\/p>\n<\/div>\n

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