About RFND Investment and the first SLP token I knew

When I was reading Uptrennd, I came across a writing contest for $RFND. I originally did not plan to write anything as I did not know anything about it, but I read more and more and since I already read much, why not just write something myself.

What is $RFND?

If you followed from the beginning, you probably have a solid understanding, but if you are a newcomer like me, you probably wonder what kind of perks that this token than bring other than just being a token. There are two chronological order to understand what $RFND is.

Bitcoin Cash

You probably know that Bitcoin is the first cryptocurrency which is a currency that is open, decentralized, permissionless, and many other features powered by cryptographic technology. It is able to verify transactions and reach a consensus without a third party but through algorithm. Thus, the ownership of assets is returned to each holders unlike the money in the banks.

Each people are different and each people have different visions and thus, the development of Bitcoin can no longer be in a singular path. Vitalik wanted to implement smart contracts on Bitcoin but was regarded as a spam by most developers so he created Ethereum. Roger Ver and some developers wanted to focus Bitcoin as a medium of exchange and found it necessary to increase the block size where one of the reason is for faster transaction but many developers do not agree and it is better to leave Bitcoin originally as it is so Bitcoin Cash was born. Cutting off the story, we proceed to this article’s explanation that $RFND is related to Bitcoin Cash.

Simple Ledger Protocol

It is through $RFND that I first learned about simple ledger protocol (SLP). SLP is a protocol to issue tokens on Bitcoin Cash blockchain. From their FAQs, there is a question “Is SLP like Ethereum’s ERC-20, but for $BCH?” and the answer is “In many ways, yes.”. They are the same in where anyone can issue their own tokens with the difference that ERC-20 is following Ethereum’s vision while SLP is following Bitcoin Cash’s vision.

Finally, we can answer what $RFND really is. In substance it is a token issued with SLP. If you want to know its tokenomics such…