Press Releases 10 months agoPress Releases
Bitcoin Cash (BCH) tokenization contest with £5 million prize
CoinGeek.com are launching a contest to shape the next technological leaps on the BCH blockchain. The available prize is £5 million worth of Bitcoin Cash.
In its short life Bitcoin Cash has already demonstrated that the vision contained within the original Satoshi white paper can be realised and delivered on the network, i.e, massive on-chain scaling is possible using today’s technology.
This opens up the opportunity for BCH to support tokenization of assets as well as payments in the native BCH cryptocurrency.
Digital tokens are key to supporting a broader range of transactions as they allow an asset that exists in the real world – or at least not on the blockchain – to be represented within a blockchain transaction.
The challenge for participants: design a generic system, or suite of interacting systems that deliver the following:
• An Issuer solution that permits an entity to:
o Securely create tokens;
o Issue tokens to user’s wallets;
o Redeem tokens from users; and
o Securely destroy tokens back into the originating cryptocurrency at the end of that token’s life cycle
• A user solution that either plugs into their existing crypto-currency wallet, or sits alongside that wallet, that allows the user to view their current holding, trade their holding and redeem their holding
• An audit solution that allows a third party to securely and independently validate the status of all issued tokens on the blockchain
Challengers will also have the opportunity to use intellectual property assets from leading blockchain research & development firm nChain: CoinGeek will provide participants in the challenge with access to, and licences (limited for use on the Bitcoin Cash blockchain), to use certain assets from nChain’s patent portfolio for use within their solution.
CoinGeek.com owner, Calvin Ayre, commented: “While it is our firm belief that BCH is the one true blockchain that will emerge out of all the FUD around cryptocurrencies right now we want to also ensure BCH has all the tools necessary to make that claim and more. Tokenization is another step on that journey as we create a ‘best of breed’ coin that has all the components of the original Satoshi white paper but also has the additional features that enhance BCH further still.”
Contact & conference details:
Creating better BCH applications is important but just the beginning. We are also launching campaigns to educate merchants about the benefits of adopting Bitcoin Cash as a lower fee, fast payment system. These educational efforts will really hit a peak at our CoinGeek Conference in Hong Kong this May.
For full challenge details, https://coingeek.com/partnerships-and-contests/
For media request please contact: Ed@pownall.eu or +44 7825 064776
Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Press Releases 15 hours ago
Binance Hackathon to address security concerns in crypto
- The inaugural Binance SAFU Hackathon will bring blockchain developer teams from around the world to build a safer environment for users to exchange cryptocurrencies - Winning teams stand to win US$100,000 in prizes SINGAPORE, ...
Press Releases 2 days ago
Squire establishes advisory board
Vancouver, British Columbia; December 12, 2018 – Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire” or the “Company”) announces that it has established an advisory board of industry experts to broaden the Company’s expertise ...
Press Releases 3 days ago
The largest Blockchain Conference in Asia to be held 30–31 January in Yokohama, Japan; Over 150 companies participating
The second Japan Blockchain Conference in Yokohama, Japan, will once again bring together 150 expert companies and organizations in the cryptocurrency and blockchain field from around the world, showing their latest developments to an expected ...