The developers of Bitcoin Cash have just released the CashTokens update, which allows users to issue digital assets within the network.
From now on, users will be able to create fungible and non-fungible tokens, as well as Bitcoin Cash-based DeFi applications.
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The update reportedly also aims to provide additional security and privacy for the protocol.
According to the developers' blog:
"CashTokens are digital assets that can be created and used on the global, decentralized Bitcoin Cash (BCH) network. Token-supporting wallets use unique payment addresses or query parameters to indicate their ability to receive CashTokens, so users of CashTokens don't need to worry about compatibility when sending tokens."
Other new features include a reduction in transaction size, which will streamline data transfer, as well as enhancements to smart contracts that enable the implementation of recurring payments, derivatives trading and crowdfunding functionality.
The upgrade has been supported by crypto exchange Binance.