Examine the Token Universe Built on BCH With the New SLP Explorer

There’s been a lot of token creation taking place on top of the Bitcoin Cash (BCH) network of late. On Wednesday, Blockparty’s developer launched a new Simple Ledger Protocol (SLP) explorer that gives users the ability to browse SLP tokens built on the BCH chain. The Simpleledger.info or the ‘Tokendb’ browser provides an interesting look at the growth of coin creation over the last month and the token movements that follow these unique creations.

Also read: Finland’s Regulatory Watchdog Plans to Supervise Localbitcoins Operations

Explore the Token Universe With the New Simple Ledger Protocol Token Browser

The BCH community has been experimenting with creating all kinds of SLP tokens lately and sharing them across the web. The SLP project launched on the BCH network in August 2018 and since then BCH supporters have been creating a variety of tokens. SLP tokens are like a transaction within a transaction because the token information is stored in an output known as an OP_Return, which is tethered to an extremely small fraction of BCH.

Over the last 30 days, SLP token production has really heated up and BCH supporters have been designing all kinds of special coins. On Wednesday, the developer behind Blockparty and the Minecraft-like BCH game Craft.cash launched an SLP explorer so people can get a glimpse of the token action taking place on the network. The new platform allows users to browse all of the SLP tokens created on the blockchain and track them in various ways.

“Today marks the release of Simpleledger.info — an open-source explorer for SLP tokens,” explained the founder of Blockparty.

The browser is similar to most blockchain explorers and users can either paste a transaction ID in the search window, search by the token name or ticker, or query an address that holds a token. The landing page shows the latest SLP token transactions which could represent a genesis creation but also the token’s movements as well. There are 147 entries to query and below the recorded transactions is a graph that showcases SLP token usage.

The month of March saw a nice uptick of token usage and there were 459 transactions accounted for on March 18. The chart also shows the number of SLP transactions per block between the end of February up until now. Under the usage graph is a pie chart of the most popular tokens this month which consist of coins like Coco, Spice, Nakamoto, and Xrpcash. The SLP-based Lode Runner game tokens for levels 1 and 2 are popular as well.

The SLP Ecosystem Is Growing

Another interesting aspect of Tokendb is the ‘token graph’ settings which show a graph-like interpretation of the creation of these tokens and the transactions that follow. The graph shows each SLP token built on the BCH network and all the coins can be tracked more easily using the visual representation. A nice example of the token graph section is looking at the popular nondivisible coin the SLP Torch which was passed around between BCH enthusiasts. You can track the SLP Torch movements when it was passed around on Twitter and Reddit two weeks ago.

The new SLP token explorer also uses the Fountainhead Cash projects Bitdb and Bitsocket which were forked for the BCH network when Unwriter left for BSV. The explorer is just another addition to the token economy that is slowly starting to build a solid foundation with apps like Badger wallet, Electron Cash, and other extensions.

In addition to the Tokendb explorer, the Simple Ledger developers tweeted a sneak preview of the team beta testing an iOS mobile wallet specifically designed for SLP-based coins. “Beta testing a native iOS wallet and SDK for SLP Tokens built by Bitcoin.com — Amazing work by Jean-Baptiste Dominguez and crew,” the SLP development team wrote.

What do you think about the token database and explorer created for SLP coins? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, SLP, Simpleledger.info, and Pixabay.

Need to calculate your bitcoin holdings? Check our tools section.

The post Examine the Token Universe Built on BCH With the New SLP Explorer appeared first on Bitcoin News.

Bitcoin.com

Bitcoin.com is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.