BSV Blockchain, the stewards of the BSV blockchain network, held a technical meetup in Mallorca, Spain to discuss some of its upcoming projects and ongoing developments. The technical meetup was organised by the team at Gate2Chain to introduce ARC and SPV Wallet. As part of the technical meetup, attendees heard from companies currently developing tokens on the BSV blockchain.
TroyMoney, a subsidiary of WorldVest, aims to tokenise vaulted gold and other precious metals on the blockchain. They look to improve the current financial landscape by establishing and integrating a range of digital investment currencies backed by precious metals.
The fusion of blockchain technology with the inherent value of gold and other precious metals facilitates the revival of gold and precious metals as a private ‘metals as money’ monetary system. It also provides deep liquidity and instant off-ramps to any global fiat currency.
Tokenised is an all-in-one tokenisation solution designed for institutions, government agencies, enterprises, and individuals. In the context of the BSV blockchain, a token is a digital asset that represents something of value: either a commodity or a service. The fundamental unit of the BSV blockchain, the satoshi or 1×10^-8 BSV, is a commodity token that can be used as the basis for any kind of token whether it’s fungible or non-fungible. Tokenised utilise smart-contracts to extend satoshis by describing the function of their custom tokens in BSV Script, the predicate scripting language used to lock and unlock satoshis in BSV transaction outputs and inputs, respectively.
Tokenised’s smart-contract based tokens enhance the value proposition of digital assets by providing a flexible extension to the unique advantage of BSV’s satoshi commodity token: secure high-frequency microtransactions.
What is a token?
A token is a representation of value: good or service. On the blockchain,, a token can be captured in a digital ledger entry that also records the ownership rights of a certain entity for a given asset and the subsequent changes of ownership over time to the BSV ledger. Each company has the freedom to create its own token protocol and the BSV blockchain supports a variety of token protocols to meet every demand.
Some of the most-used token protocols on the BSV blockchain include:
STAS: The STAS protocol creates smart contract-based tokens and enforces token persistence with optimised minimal code size. STAS tokens as native L1 tokens on the BSV blockchain protocol are ideal for implementing token or NFT solutions that rely on long-term stability and decentralised management.
1SAT Ordinals: 1Sat Ordinals is a completely FOSS protocol which infuses individual sats with numismatic values at the atomic level of BSV. Each sat can now be inscribed with any arbitrary data; creating unique BSV-native digital artefacts that integrate with all wallets. Inscriptions are as scalable, durable and secure as BSV itself, and 1Sat Ordinals is uniquely powerful among token protocols because of its elegant simplicity.
ELAS Token: Elas uses the Metanet concept to create private, permissioned ledgers for the multi-signature issuance of tokens on the BSV blockchain. Tokens are issued as UTXOs and can be transacted using any valid script, supporting arbitrarily complex token functionality. Fixed or dynamic Satoshi amounts can be used to allow both fungible and non-fungible tokens. Issuance and transfer signatures are all validated at the consensus level, but Elas token protocol enforcement is governed by Elas infrastructure, tuned for each specific use case.
Tokenized: The Tokenized Protocol is an open-source application layer protocol that utilises the BSV blockchain for passing, authenticating and storing messages. The protocol focuses on data (aka records) captured from financial, legal, commercial and accounting activities for all types of legal entities and ownership structures. It aims to disrupt modern financial messaging, and EDI, standards (e.g. ISO 20022) with an improved value proposition, and ultimately usher in the smart contract era through a digital transformation of contracts, and the associated instruments and records.
