How the SLP Token Ecosystem Plans on Thriving
SLP tokens or simple ledger protocol tokens runs on top of BCH's network & supports smart contracts. The Bitcoin Cash developers have been working hard on creating the on-chain token ecosystem since the mid-2018. After roughly a year of their efforts, they managed to roll out more than a few unique and creative features for the network. This includes the BCH dividends for SLP token holders, tools to easily create SLP tokens, and support on Bitcoin.com's exchange to name a few.
Roger Responds and Talks About SLP
Seemingly Bitcoin Cash's SLP tokens offers a lot of promise to the world of cryptocurrencies so we went straight to the source to ask further questions. We reached out to Bitcoin.com's Executive Chairman Roger Ver, and he was kind enough to respond to many inqueries on the topic.
Q. What would you like to see developed on SLP?
With SLP tokens on Bitcoin Cash the tokenization of just about anything is possible, but the most interesting use cases likely havenâ€™t even been thought of yet.
Q. What are the projects are being developed on SLP?
Some of my favorites are
And of course, GoCrypto.com
Q. How do you plan on incentivizing dApp developers to migrate to Bitcoin Cash?
dApp developers will want to use Bitcoin Cash if it is more useful to them than alternatives, so our job at Bitcoin.com is to build all the tools and infrastructure to make it the most attractive option for them.
Q. What are your thoughts on stablecoins?
Stable coins have been by far the most successful token so far, but with SLP stable coin holders can now receive interest paid directly to their wallets.
With the current set of stable coins on other chains, users can only earn interest while giving up custody of the stable coin. The SLP Dividend Calculator tool makes this possible.
Q. What is your favorite token project outside of the SLP network?
My favorite token platform of course is ETH.
The token that I use the most currently is USDT.
The tokens I have the most hope for in the future would be related to prediction markets.
Q. Are there any plans for Bitcoin.com to feature a dex or launchpad in the future?
The Bitcoin.com Exchange will have a launchpad ready shortly. People can sign up today at exchange.bitcoin.com to be notified.
Q. When do you think we'll see SLP support integrated in Bitcoin.com's wallet?
I was hoping 6 months ago, but before the end of 2019 is likely.
Q. Will SLP tokens be supported in other wallets that support BCH? (I.e erc20 tokens in wallets that support eth)
They already are. A few examples are Badger Wallet, Electron Cash SLP Edition, and Monarch Wallet.
Q. What are your thoughts on blockchain oracles?
I think most people don't appreciate how important oracles are. They are what connect the real world with smart contracts on the block chain.
Q. This might be a bit off-topic, but what is the weirdest thing you've ever bought with Bitcoin Cash?
I guess the weirdest thing was giving it away to strangers on the internet.
Bitcoin Cash Ecosystem Fund
To further support the Bitcoin Cash ecosystem, and by extension the SLP network, Bitcoin.com announced a $200M Bitcoin Cash Ecosystem Fund.
Seeing that the SLP network offers on chain transaction data, is easy to issue, and has very low fees, it could become very attractive to developers. It also seems that the SLP network has a bit of a head start on similar technologies, most notably Ethereum 2.0 & Blockstream's liquid. It seems that Bitcoin cash's SLP token network will be able to put up a fight with those emerging technologies and possibly even give them a run for their money.
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Written by Jonathan Ganor
Writer & cryptocurrency aficionado