How to setup and use SmartBCH - an EVM smart contract sidechain for the Bitcoin Cash Blockchain
SmartBCH is the EVM side chain deployed on the Bitcoin Cash Blockchain that allows users to do more with bitcoin cash and associated tokens. SmartBCH enables development of complex DAPPs and smart-contract application while using the relatively faster and more affordable Bitcoin Cash network and cryptocurrency to pay for transactions rather than using the more expensive and slower options such as Ethereum, BSC and Tron.
While our initial tokens were also deployed on the Bitcoin Cash Blockchain using the Simple Ledger Protocol, some constraints in SLP such a ready decentralized exchanges to trade our tokens among other constraints made SLP significantly cumbersome to use and to encourage adoption.
While we have not totally abandoned SLP technology and would have actually preferred to deploy on the main chain rather than a side chain, we are deferring to this enhanced side chain to function more efficiently.
Users who hold our SLP tokens will be able to migrate their tokens to the SmartBCH sidechain.
Each token page has been updated with information about the token on SmartBCH where applicable to aid transition and usage of the enhanced chain and its tools.
HOW TO ACCESS AND USE MoTA TOKENS ON SMARTBCH.
While currently still in early deployment and testing phase, smartBCH is fully operational, allowing users to not only store tokens in relevant wallets but also able to use DEXes and other tools on the chain.
The default wallet is Metamask. Being an Ethereum based chain, it is expected that many ethereum wallets will soon support smartBCH.
In the meantime, the processes for using smartBCH are
- Download and install metamask wallet, complete setup, create a wallet and write down your recovery secret in a safe place.
- Add the smartbch chain to Metamask. (Note: Can also be done automatically by visiting smartmask)
- Add the SmartBCH contract address of the token of interest e.g. MGOT (Note: Can also be done automatically by using metamask icon on marketcap.cash)
- Get some Smart BCH (SEP20) for gas or transaction fees. (e.g. Deposit regular BCH to Coinflex and withdraw to your metamask as SEP20 BCH)
- Receive and send SmartBCH/ SEP20 BCH and tokens to or from your metamask wallet as desired.
- Explore your transactions on SmartBCH transaction explorers (e.g. Smartscan)
- Buy some tokens to add to your collection (e.g. MGOT)
- or visit a DEX to trade and swap your tokens with other tokens (e.g. BenSwap).
In order to store your MGOT, you need only steps 1-3. To send MGOT out of your wallet you need step 4.
This information will be continuously updated to provide the best and simplest way to use SmartBCH.