The Smart Bitcoin Cash team (Smartbch) announced that three nodes have been launched as genesis validators, just days before the fourth Bitcoin Cash anniversary. Smartbch announced that Matrixport, Viabtc and Btc.com are all participating in the project’s voting period.

Smartbch Fires up Smart Chain’s Genesis Validators

For quite some time now, the Bitcoin Cash (BCH) community has been patiently waiting on the development of the Smartbch project. The reason for this is because Smartbch could unlock massive potential between Ethereum (ETH) and Bitcoin Cash.

The protocol could support decentralized finance (defi), on Bitcoin Cash, and be compatible with the second-largest crypto asset by market capitalization. Bitcoin.com News first reported on Smartbch during the first week of April and interviewed the project’s lead developer 15 days later.

By the end of the month, Smartbch launched the testnet publicly and which gives developers and decentralized app makers the ability to experiment and develop with the high-performance, EVM-compatible Bitcoin Cash sidechain. Smartbch now has three nodes as genesis validators.

The three Smartbch nodes are operated by Viabtc, Matrixport, and Btc.com. The announcement states that Smartbch is currently in its first voting period. “More validators will be elected by SHA256 miners and will take on the duty in the future.”

“We have spent two more months in development than the original estimation to finalize the data structure of MoeingADS and to implement SEP101, SEP206, and Transaction Reorder onto Smartbch,” the Smartbch development team adds.

“MoeingADS, the underlying storage engine of the world state, is extremely difficult to modify in hard forks,” Smartbch developers say. “Ethereum’s MPT, the underlying storage engine for the world state, has not changed its data structure since its inception. MoeingADS is now strong enough to support 51K TPS and can support Smartbch’s growth for many years without changing its primary data structure.”

Focus on a Secure Cross-Chain Bridge

The Smartbch team said that the project would take a long time to make the protocol strong. The developers discovered a lot of exploits in defi projects over the past few weeks. This was due to cross-chain bridge vulnerabilities.

The Smartbch team aims to strengthen the Bitcoin Cash sidechain’s cross-chain gateway so it is very secure and powerful. The Smartbch team states that security will be the priority and that it will be audited regularly by the community.

” The launch is a solid milestone in Smartbch’s long journey,” concludes the project’s creators. “We invite everybody from the BCH community to use it and help its growth. We’ll soon provide some guides for BCH holders to try it and transfer a limited amount of coins cross-chain through the current simple gateway.”

What do you think about Smartbch launching three nodes for genesis validators and the focus on the cross-chain bridge? Please comment below to let us know your thoughts on this topic.

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