Over the past few weeks, the cryptocurrency Bitcoin Cash (BCH) has seen a lot of new infrastructure support, applications, and protocol innovation. While everyone has been watching the bearish markets across the digital currency economy, in general, there’s a lot of action happening within the BCH ecosystem that supersedes its current price speculation.
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The BCH Train Continues to Truck Along
BCH proponents have been able to continue the focus towards spreading adoption and lately there’s been a lot of infrastructure support to back up the passion.At the moment theBitcoin Cashblockchain is over 7,000 blocks ahead of the Bitcoin Core (BTC) chain operating at 11.5 percent of BTC’s current network difficulty. During the last days of June, it is 9.98X more expensive to transact on the BTC chain than using BCH according toCoin Dance statistics. BTC is the most traded cryptocurrency swapped for BCH while ETH, HT, Waves, and LTC follow behind.
Unwriter Unleashes Bitdb: Build Decentralized Apps With a NoSQL database powered by Bitcoin
On June 29 the developer Unwriter released theBitdb.networkwhich is a global database of Bitcoin OP_Returns and anyone can build decentralized apps using the protocol with zero servers and zero infrastructure. The creator of the project hosted an Ask-Me-Anything (AMA) on Friday, and discussed the project in more detail. News.Bitcoin.com also recently featured the developer Unwriter’s three other projects that are powered by the BCH chain.
“Because Bitdb is backed by Bitcoin as canonical storage, it comes with all the benefits of Bitcoin’s decentralization. It’s powered by MongoDB as an index, it comes with all the benefits of NoSQL databases, including unlimited insertion of unstructured data, as well as highly flexible and portable query interface.” — Unwriter.
“Bitdb is a NoSQL database powered by Bitcoin — It’s an autonomous public MongoDB instance which self-updates by crawling and indexing Bitcoin OP_RETURN transactions, a special type of transaction that can include up to 220 bytes of arbitrary data,” explains the website. “Using this 220 bytes as a database insertion command, we can construct an entire database system from Bitcoin.”
Because it’s backed by Bitcoin as canonical storage, it comes with all the benefits of Bitcoin’s decentralization, and because it’s powered by MongoDB as index, it comes with all the benefits of NoSQL databases, including unlimited insertion of unstructured data, as well as highly flexible and portable query interface.
“Bitdb takes a different approach. Instead of trying to implement decentralization on top of a legacy database, Bitdb utilizes Bitcoin as the single source of truth. In this approach, the ‘database’ is merely an index built from the canonical Bitcoin blockchain. Because Bitcoin has already solved the decentralized consensus problem through Proof of Work, Bitdb works right out of the box.” — Unwriter.
Cointext Raises $600K in Bitcoin Cash
In other news, the firm Cointext.io has raised $600,000 in BCH from a seed funding round led by Yeoman’s Capital. Cointext allows users to transact with bitcoin cash with any type of mobile phone using SMS technology (text). David Johnston, Managing Director of Yeoman’s Capital, explained that his firm wants a project that will change the lives billions worldwide. “We have a high bar for projects that we invest in — the technology must have the potential to impact over a billion people,”explainsJohnston.
Cointext allows any mobile phone to accept bitcoin cash payments.
Cointext President and CTO, Vin Armani, details that Yeoman’s team will bring valuable experience to the table. “We are dedicated to making cryptocurrency easy to use for the maximum number of people,” Armani emphasizes.
Keys4coins Announces 0-Confirm Transaction Says Its “Faster Than Lightning!”
This week Bitcoin Cash fans were also pleased to hear about the game store Keys4coins announcing the acceptance of zero-confirmation transactions. Keys4coins is an online store that sells keys to games and Steam gift cards, and the company does not accept fiat. This means as soon as the network broadcasts the transaction users are allowed to claim their items (game keys and gift card codes) right away rather than waiting for one confirmation.
“We are happy to announce Bitcoin Cash 0 confirm payments is now enabled,” explains Keys4coins.
That means your transactions will now be faster than lightning — Make your order today and see the wonder of Bitcoin Cash. Experience order completion and delivery within seconds of making payment.
Further Support and Innovation With Purse.io, and Trustless Bets
Overall there’s been a lot more support and infrastructure additions to the Bitcoin Cash ecosystem during the last few weeks. Just yesterday Purse.io officially announced BCH integration, and now users can save 20 percent or more at Amazon using BCH with the Purse system.
Trustless betting is coming to the BCH network as the Chainbet developers have built a fully working prototype.
Another great achievement this week was when the Electron Cash developer, Jonald Fyookball, revealed a working prototype for — Chainbet — A protocol that brings trustless betting to the BCH network. So far even though crypto-markets have been in a slump you couldn’t tell with all the building and innovation taking place these days.
What do you think about all the apps, support, and new innovations coming to the Bitcoin Cash network lately? Let us know what you think about this subject in the comment section below.
Images via Shutterstock, Nokia, Cointext, Keys4coins, and Bitdb.network.
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