PRESS RELEASE. Dubai, July 24, 2023 – The BCH Ecosystem Fund has announced a significant $20 million investment in the Cashtokens ecosystem, following unanimous approval during the Bitcoin Cash (BCH) Network Upgrade on May 15, 2023. The Cashtokens protocol holds the potential to create a comprehensive UTXO ecosystem application.
The BCH Ecosystem Fund, renowned for its commitment to pioneering advancements in the BCH space, seeks to foster cutting-edge innovations. Projects demonstrating clear Web3 innovation rationale and value capture potential, as well as assets enhancing BCH’s diversity with native, secure, and transparent attributes, are of particular interest. Additionally, the Fund is keen on applications, infrastructure, and gateways that elevate BCH’s reputation and usability, along with user-friendly solutions that drive business growth. The Fund is also intrigued by globally-consensus-building DAOs and applications leveraging the “mirror world” concept for technological and financial innovation.
Director Peng Wang disclosed the BCH Ecosystem Fund’s bold $20 million investment in the Cashtokens ecosystem. Since 2018, the Fund has gained extensive experience investing in various BCH-related ventures, spanning wallets, exchanges, media, and gaming.
The recent approval of the Cashtokens protocol in the BCH mainnet upgrade marks a strategic shift for the BCH Ecosystem Fund, which is now focusing on supporting Cashtokens-based initiatives. Peng emphasized Cashtokens’s role in enabling near Turing-complete smart contracts on the BCH Network, a milestone once considered infeasible for UTXO networks. Compared to existing solutions for token standardization on UTXO networks, Cashtokens offer superior user experience and smart contract capabilities, resolving prior issues faced by platforms like ETH.
Peng envisions creating an “Image world” on the BCH Network, featuring an array of financial and decentralized applications supported by BCH as the foundational currency. Though in its early stages, the Cashtokens ecosystem has already shown promise with platforms like CRC20 and fex.cash. The market value of Cashtokens assets surpassing $200 million further fuels optimism for future development.
For full interview, please read: http://www.gfinancialnet.com/sociology/749.html
For more information:
BCH Belief: https://twitter.com/BCHbelief
CRC20 Deployment, Mint and Transfer: https://scaling.cash/
About BCH Ecosystem Fund:
The BCH Ecosystem Fund is a leading investor in groundbreaking projects within the Bitcoin Cash space. Established in 2018, the Fund focuses on driving innovation and supporting the growth of BCH and its related ecosystems. With a keen eye for transformative technology, the BCH Ecosystem Fund aims to be at the forefront of shaping the future of the cryptocurrency landscape.
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