Bitcoin Cash’s Anniversary Event in Hong Kong: BCH Could and Should Support Multiple Tokens, Says Bitmain’s Jihan Wu
Hundreds of Bitcoin Cash’s family members gathered in Hong Kong yesterday to celebrate the the one year anniversary of the creation of BCH. Big names well-known for backing Bitcoin Cash, including Bitcoin Cash CEO Roger Ver , Bitmain CEO Jihan Wu, nChain’s Dr. Craig Wright, and BTC.top founder Zhuoer Jiang, attended the BCH anniversary event held in in the Ritz Carlton at Hong Kong’s International Commerce Centre and delivered keynote speeches.
Jihan Wu noted that Bitcoin cash will add new features to support multiple tokens, and cautioned against the hype around ICOs.
When it comes to the development plan of BCH, Wu said in order to promote the long-term development of Bitcoin Cash, BCH could and should support multiple tokens through some more flexible scripts. BCH should respect the most essential features of the financial market and develops different financial tools to help blockchainized businesses. Besides, BCH will continue to speed up transactions, support sidechains and increase the amount of OP_RETURN function data to allow for Turing-complete scripting.
He believed the most ideal financial market is not the one without regulators, but is a market where regulators can compete with each other. “The market will find which is the ideal regulator through the competition process. Regulators need a ‘turing completeness’ platform, and different regulators can put their own envisions on the blockchain through programming which reflects full freedom.” Wu said.
Wu noted that BCH could do more than a currency with a measured tone. “On top of this ideal we can build a strong foundation of cryptocurrency. If not, we’re just building castles in the air.” Wu said.
He also warned investors over the irrational exuberance around ICOs, saying that many ICO projects exist only to grab money by misleading investors. The crypto industry should not condone such kind of behaviour.
“Token issuers should divide earnings or risks equally among token holders, adequately disclose information, and provide dividends to all token holders. At present, crypto exchange tokens, such as Huobi’’s HT, okEx’s OKB and Binance’s BNB, set good examples, as they deliver economic benefits to token holders whilehave some platform use.” Wu said.
Since its inception, BCH has been a contentious issue in the cryptocurrency community. The team behind the spin-off of bitcoin prides itself to be closer to the original Satoshi Nakamoto’s vision and double their efforts to increase BCH chain’s block size to allow more transactions, and in turn more users. According to data from Coinmarketcap, BCH is currently ranked number four by market capitalization, with over $13 billion.