Tokens.net exchange has just become one of the first crypto exchanges to implement SLP protocol as a part of the partnership deal the exchange made with Bitcoin.com and Simple Ledger Protocol (SLP). The partnership has a goal of bringing SLP protocol for easy and simple tokenization with increased integrity and transparency to broad masses and mass adoption. As the trend of tokenization of any type of value is steadily finding new markets, Tokens.net, Bitcoin.com and Simple Ledger Protocol are joining forces to make development and creation of tokens easier and simpler than ever.

From Left to Right: Nejc Bukovec (COO Tokens.net), Damian Merlak (CEO Tokens.net), Roger Ver (Executive Chairman Bitcoin.com),
Stefan Rust (CEO Bitcoin.com), Mate Tokay (COO Bitcoin.com)

What is Simple Ledger Protocol?

Simple Ledger Protocol can be described as the equivalent to ERC20 type tokens, where SLP carries the same functionality and value on Bitcoin Cash chain as ERC20 does on Ethereum network. Unlike many different networks that enable token hosting, SLP doesn’t require a native token to be purchased and used in order to unlock tokens and their intended purpose, making up for an effective way of using SLP-based tokenized assets. SLP allows for simple and fast creation, management and trading of tokens within a peer-to-peer network with no middlemen joining the transaction process, all at low transfer costs and increased functionality.

Thanks to SLP protocol, any type of value can be easily tokenized, which includes gaming assets, digital media ownership and rights, stocks and shares, gift cards, contracts and licenses. SLP tokens are created to be compatible with Bitcoin Cash chain, enabling prompt and efficient transfers of value across the chain with fast and cost-effective on-chain transactions. SLP also represents the first and presently the only Bitcoin Cash token system built to support light wallets. In addition, the system is created in a robust way and with limited set of consensus rules in order to prevent loss of tokens and provide a reliable environment for management, creation and trading of tokens. The protocol also supports different types of tokens and token formats in accordance with issuer’s purpose and goals, making SLP maximally extensible. SLP is an open-source system with several open-source implementations, while the system is simple and easy to use and understand.

Why Tokens.net Partnered With Bitcoin.com and SLP?

Tokens.net is one of the first exchanges to have implemented Simple Ledger Protocol aiming at joining the growing market of tokens. Believing in the cause behind SLP and Bitcoin.com partnership, Tokens.net had joined forces into creating a strong partnership with the goal of promoting and advocating for tokenization. Simplified and transparent system for tokenization of value and assets with increased integrity is precisely the system that can bring tokenization to broad masses and mass adoption, which is how SLP has strong chances of becoming a mainstream system for token creation and management. In the spirit of creating the new-age digital market of highly functional tokens, Tokens.net will be working together with newly acquired partners towards bringing SLP protocol to mass adoption and wide utilization.

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Author: Tokens.net Team
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