SmartBCH was launched on July 30th, 2021 with the promise of bringing the Bitcoin Cash on par with other PoS networks, like ETH and BSC, and enable Bitcoin to offer DeFi-at-sale.
The goal of this project is to introduce a decentralized Proof-Of-Stake (dPOS) federation of Validators whom will take accept the burden & responsibility of protecting the coin and token assets of the SmartBCH sidechain.
Smart Bitcoin Exchange (SBX) is a distributed Proof-of-Stake (dPOS) network of elected Validators tasked with effectively managing the SmartBCH bridge using a suite of Free and Open Source Software (FOSS) smart contracts.
The current treasury of SmartBCH is controlled by a centralized, "for-profit" entity that was assigned to the task as a "temporary" solution which permitted the initial launch of the sidechain.
The newly formed Smart Bitcoin Exchange (SBX) will operate under a trusted federation model. Deposit events on one chain (eg. BCH, AVAX, BSC) are detected by a trusted set of off-chain XHedge Validators who await finality, submit events to the SmartBCH sidechain and vote on submissions to reach acceptance triggering the appropriate event handler.
A NEW SBX Server run by a decentralized pool of "financially invested" individuals and teams that will effectively manage the treasury and all bridge activities. The pool will be determined (and weighted) utilizing the NEW XHedge Validators network currently responsible for 1/2 the security of the SmartBCH network.
This scheme creates a decentralized "trust" network which offers an immediate alternative to the centralized bridge problem, until SHA-Gate is ready for production use.
The idea behind SHA-Gate is to package the entire treasury system into an elegant smart contract. After introspection was added to Bitcoin Script in the May 2022 Bitcoin Cash upgrade, this became a real possibility. However, it still remains a complicated scheme which involves the use of Enclaves run on the 3rd-party networks (eg. AWS, Azure) that support them.
The SHA-Matrix will be a far simpler solution, using more "conventional" methods and designed around the idea of a Circle of Trust. The trust will be established by a large group of individuals and/or teams that have interests MOST inline with the interests of the Smart Bitcoin (SBCH) network.
Follow our handy guides to get started on the basics as quickly as possible:
Learn the fundamentals of SBX to get a deeper understanding of its internal features: