More recently, the developers behind the Bitcoin Cash-centric project AnyHedge released the alpha version of AnyHedge Whitelabel, and since then, 284 smart contracts have been created onchain, and over $32,900 in hedge funds using the Alpha protocol. Furthermore, this month, the engineers behind AnyHedge, General Protocol, revealed that the team plans to launch a decentralized application (dApp) on the Bitcoin Cash blockchain that allows anyone to hold long-term transactions against a myriad of tradable assets. Allows bitcoin cash.
Common protocol for launching a decentralized application that allows users to hedge or long bitcoin cash, the AnyHedge Alpha Whitelabel recently released
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In recent times, a few different projects have been created within Bitcoin Cash (BCH) Ecosystem. A Protocol Called Anywhere Just free An alpha version of the protocol, which allows users to create smart contracts on-chain. Also, the team behind AnnieHage, general protocolrecently Abbreviation Anyhay’s extension, which was made possible after the new rules changes came into force BCH network last May.
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This month, General Protocol plans to launch a dapp called BCH BullAn application that allows people to walk longer BCH Against multiple tradable assets. BCH Bull is an unauthorized and non-custodial dapp built on BCH Chain. Tradeable assets that can be used to long or hedge Bitcoin Cash include assets such as the US Dollar, Bitcoin.B T c), Ethereum (ETH), or the precious metal gold.
“Using the Anyhayage Protocol (produced by Common Protocol), BCH BULL will allow users to create 10x leveraged smart contracts directly from their own wallets with no sign-up required,” General Protocol BCH Bullock explains the announcement. The team’s dapp announcement stated:
On the other hand of the contract, users who wish to stabilize their purchasing power will also be able to create hedging positions against the same assets, thus providing a reliable and novel crypto stability solution, suitable for risk-averse users such as Required for traders, miners. , and other businesses dealing with cryptocurrency.
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The general protocol details that because AnyHedge takes advantage of the unspent transaction output (UTXO) properties provided by smart contracts. BCH Network is one advantage of smart contracts. Benefits include “being able to handle high volumes with low fees, while all contracts are stateless and remain independent of each other, thus improving privacy and reducing any systemic security risks.”
So far, the project’s creators elaborated that alpha testing saw more than 100 on-chain contracts execute “perfectly” and “seamlessly” each of them. Alpha testing of Anheige ended on 28 September, and the general protocol summarized the achievements.
The team explained on October 2, “284 smart contracts created on-chain with over $32,900 of hedging.” BCH The Bull beta release is set to launch at some point this month and interested parties can check out the project’s updates Common Protocol Telegram Channels,
what do you think about the upcoming BCH Bull application built by Common Protocol? Let us know what you think about this topic in the comment section below.
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