Correction: Bitcoin Cash Blog Service Hymm.io to Use Simple Ledger Protocol

Hymm.io, formerly Honest.cash, addressed an earlier BSN article about its rebranding in a recent tweet. The company told us that they will definitively be issuing their new token on Bitcoin Cash using the Simple Ledger Protocol.

Hymm.io Stays True To Bitcoin Cash Community

Earlier that day, they made that fact abundantly clear to users in an e-mail blast.

The message reads, in part:

“The Hymm Token will be a digital asset within the Hymm ecosystem that’s traded between users (content creators and consumers) and advertisers. Businesses need to acquire the Hymm Token to be able to publish campaigns. […] After the initial feedback of the community (thank you), we are happy to have made the decision for the Hymm Token to be based on the Bitcoin Cash token technology, Simple Ledger Protocol.”

In the official version of the Hymm whitepaper released today, the word “Ethereum” does not appear once.

For that reason, this reporter owes Honest.cash and the reader an apology.

That out of the way, with the understanding that humans make mistakes, the exciting news here is that Bitcoin Cash’s token system now has a sizeable decentralized application, right out of the gate, in the form of the Hymm token.

When this reporter last spoke to Hymm CEO Adrian Barwicki, he said there were a little over 2,000 active users.

The rebrand of Honest.cash to Hymm.io is in response to user feedback, which found that people new to crypto, and new to blogging, while intrigued with the prospect of earning money, were turned off by the name “Honest.cash.”

The Real News: Bitcoin Cash Soon Has A Massive dApp

From a newcomer standpoint such a name is interesting. Are other forms of cash dishonest, because they don’t come from this website? Or because they aren’t tracked on a blockchain?

When someone considers honesty in finance, they are generally referring to their own conduct in acquiring the funds, not the integrity of the financial system itself. If someone says they made “honest cash,” they went out and earned money, rather than breaking the law, begging, or accepting charity/welfare.

Hymm is an evolution of the Honest.cash ecosystem, which itself very much echoes the faded brilliance of Bitcoin SV proponent and blockchain engineer Ryan X. Charles, who built Yours.org on the original Bitcoin Cash protocol but later forked it off to the “Sastoshi Vision” platform.

It should be noted that both platforms are able to comfortably operate, with incredibly small network fees, on either chain. The difference is that Bitcoin Cash, while sometimes controversial as a result of figureheads like Roger Ver, hasn’t had much of its liquidity eliminated through a techno-political backlash against self-proclaimed “Satoshi Nakamoto” Craig Wright.

Will dApp Developers and Users Decide Based on Transaction Fees?

The size of the fees used on Bitcoin Cash, versus those used on Bitcoin, is important from a technical standpoint in the case of a platform like Hymm.io, Cent.co, Trybe.one, Yours.org, Steemit.com, or any other incentivized blogging platform because of microtransactions.

Love it or hate it, Bitcoin Cash has the right mix of liquidity and low transaction fees for dApp developers to fall in love.

Which is the best Bitcoin for dApps? Bitcoin, Bitcoin Cash, or Bitcoin SV? All three versions — which are not the same currency — can do much of the same, although those with more block space can do it cheaper. Source: Bitinfocharts.com

In most models, all users have an opportunity to earn a kickback from their participation. For example, people who upvote content, in the Reddit parlance, earn a percentage of future earnings from the platform.

After an initial tip-based model, Honest.cash launched the ability to create paywalls for content.

The new platform will integrate nicely with a Bitcoin Cash wallet such as Badger, which serves as a browser extension and the Bitcoin Cash equivalent of MetaMask.

It goes without saying that such a large community adopting a platform based on Bitcoin Cash is a definite nod to the vibrance of that crypto, whether or not one agrees some of hte semantic debates around its naming convention.

Disclaimer: any views deemed controversial presented within this article belong solely to the author and should not be attributed to BSN, its owners, nor affiliates.

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