Cashtokens have been on the rise as the latest BitcoinCash network data shows over 26,000 tokens generated in the last 24 hours since the upgrade. BCH
, Zhavoronkov expressed enthusiasm, stating that “playing with Cashtokens for the last day” has been nothing short of captivating.
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. 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’s ERC20s.
“Unlike with ERC-20 and ERC-721, it’s possible to send both [fungible tokens] and some NFTs within a single output,” Zhavoronkov stated. The Blockchair developer’s thread added: There are no ‘contracts,’ token ids are now called ‘categories.’ The transfer structure follows the UTXO model. For token details, it’s proposed to have the Metadata Registry.
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