In an announcement on Twitter, Bitcoin.com, the domain run by the leading proponent of Bitcoin Cash, Roger Ver, has said that it will be setting up an ecosystem fund to the tune of $200 million next year to support the growth of businesses using the forked Bitcoin chain.
The fund will be available for those businesses that decide to expand and grow by building upon the Bitcoin Cash chain. This play looks to be intended to drive Bitcoin Cash to be a bigger opponent to the like of Bitcoin, and even Ethereum.
There appears to be more of a leaning towards smart contracts with Bitcoin Cash, as this fund hints at, and a recent post on Bitcoin.com seems to explain where this project fits between the other two major cryptocurrencies.
“In 2020, so next year, Bitcoin.com is launching a $200 million Bitcoin Cash Ecosystem Fund,” Ver explained. “We are going to be investing in businesses that are building on top of Bitcoin Cash. So if you have a business, or know of a business looking for funding and wants to build on top of Bitcoin Cash, Bitcoin.com and our Bitcoin Cash Ecosystem Fund is someplace you should come knocking because we are really, really eager to build more economic tools, to bring more economic freedom to people all over the world and I think Bitcoin Cash is the best tool to do that.”
Of course, as a hard fork of Bitcoin, Bitcoin Cash does have similar cash-like properties; in fact, its aim is to be even more functional as digital cash. That in itself does not lend it to be such a viable blockchain tool as something like Ethereum.
However, Bitcoin Cash is starting to shift its narrative through the promotion of its Simple Ledger Protocol (SLP).
“Bitcoin is something you hodl. Ethereum is something you build on. At least that has long been the official narrative, with projects favoring dedicated smart contract networks over Bitcoin for spinning out dapps and second-layer solutions.”
“Like all crypto narratives, however, this one has started to shift, as projects reappraise the benefits of crafting censorship-resistant applications anchored to Bitcoin Core and Bitcoin Cash,” the post on Bitcoin.com reads in enticing developer to the chain along with this ecosystem fund.