Memo Innovation Invigorates Bitcoin Cash Proponents

Memo Innovation Invigorates Bitcoin Cash Proponents

May 5, 2018 Off By Sindy Thompson

BCH users have been so excited about Memo, the new app that was launched just two weeks ago. The app is currently seeing lots of traction-right now; there is a good number of users on it, scrolling through its profile list may take some time. Many BCH fans appear to like the entire idea of censorship-proof social network systems where typically just about everything stays in on-chain. Since its launching, individuals began posting stuff, cementing URLs and little blurbs. Following this, the app has seen newer UI (User Interface) features including emojis, some counter for typing, and now, users can reply back to a memo.

3K On-chain Memo Transactions within 24 Hours

After the addition of the reply feature, the platform’s website got so much use. One Memo user, Zhell, says that the application broke records when it accumulated 3,000 on-chain transactions within just 24 hours of adding replies. Because the Memo platform utilizes P2PKH addresses that save data through OP_Return transactions, every action on it must be accounted for on BCH chain. So each time a user posts memos likes and tips memos, or replies, the BCH chain uses very small micro-transactions to create permanent records of the activities. One of the major factors that excite BCH fans is the fact that their memos are kept in a censorship-resistant manner on the bitcoin cash chain and that the platform works in some peer-to-peer manner.

Fighting Censorship with Public Blockchains

This week, for example, coding messages into some public blockchain was widely reported by online media sources when Chinese students and the #metoo movement members used the ETH network to overcome censorship by the Chinese government. Students in the country are being censored as a result of exposing various incidents of sexual harassment by University dons. Officials silenced many dissenting voices on the matter. A Peking University female student wrote a letter regarding the issue, but Chinese officials and the faculty censored the letter. On 23rd April, in the same way the Memo platform works, an individual sent one OP_Return Ethereum transaction that allowed people access to the student’s letter through the ETH blockchain. Such cases solidify the worth of on-chain networks that let users to freely share censorship-free data.

More Memo Features Coming

The Memo platform has a better display of texts, emojis as well as direct URLs which can easily be seen on some block explorers. Its developers say they have more features lined up for the coming updates. The features include attaching photos, setting profile pictures, and also reposting memos. Further, the team behind the project has also mentioned on their website that such additional features as tagging profiles, issuing and revoking delegated addresses, flagging or disliking posts/users, and a voting system can also be added. After 15th May, when the bitcoin cash hard fork has been completed, Memo could see even way more robust actions which can be added to it since there’ll be an increase in OP_Return field. The developer can then build representative assets or �colored coins’ along with some digital rights management service which is interoperable with BCH blockchain.