Bitcoin Cash

£5 million BCH Bitcoin Cash Tokenization Contest announced a new contest aimed on creating a better Bitcoin Cash blockchain with the main prize of BCH worth £5 million. Along with creating a special value for Bitcoin Cash the participants will receive list of opportunities as well.

In the frames of the contest the participants are invited to design and submit generic systems or a group of closely interacting systems that will provide the following opportunities.

  1. An issuer solution to be created which allows creating tokens in a secure way and issuing those directly to user’s wallets. The system should also enable redeeming tokens and destroying those back to the original cryptocurrency in a secure way once appropriate life cycle is ended.

  2. A user solution to be created which can be either plugged into the existing wallet or sitting alongside of it and a user will be able to see his current holding as well as trade and redeem the holdings.

  1. An audit solution to be created which will allow a third party to monitor and validate the status of the tokens which are issued on the blockchain in a secure and independent way.

Regarding the opportunities for contest challengers- all the participants will be able to use intellectual property assets by nChain which is a blockchain R&D firm. Participants will be granted the opportunity to access the licences for some assets which belong to nChain patent portfolio that can be used in their solutions.

According to they strongly aim on providing all the necessary tools to BCH in order for the blockchain to establish the true value and keep secure trading in cryptocurrency industry. Tokenization is a good step in creating a great coin with some useful features which will make BCH flexible and more powerful.

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