Quote from: BSVfan on Today at 09:47:06 AM

Hello everyone, I am a new user on this Bitcointalk channel. Hereby I wish to relay as much as possible the progress of the BitCoin BSV ecosystem. I intend to get involved and devote my time as much as possible to present the work of others.

Given the climate here, I hope that we will be able to exchange views here courteously and respectfully. If this is beyond your strength or seems impossible, then I simply invite you to ignore me so that we don't waste our time and energy.

I send you my sincere friendships!

Long live #BitCoin

Welcome to bitcointalk forum!

New apps BSV > to create any tokens and nft tokens.

Bayesian Labs: the protocol-based platform

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Bayesian Labs recently announced its fabriik token platform where users can hit and exchange tokens on Bitcoin SV . fabriik is still in closed beta, but users can register or receive an invitation from someone who already has access to it.

fabriik is the first Bitcoin SV specific platform that provides a real user interface to create and send tokens . An easy-to-use site like this is essential for users and companies to experiment.

According to their blog post, they "have adapted the solution so that (we) can focus on the real world". One of the reasons why BSV ran out of tokens is that all existing solutions so far require technical expertise. This high barrier to entry prevents more business-conscious individuals from using the different tokens and offering real-life use cases.

With fabriik, BSV is one step closer to competing with other chains in this space. The Bayesian approach of disregarding the various protocols is refreshing. Moreover, they don't have to worry about the 'winner' of a token protocol because they can listen to what the market has to say and implement what it wants.
For now, fabriik has its own token implementation which is a hybrid of the sCrypt Layer 1 tokens and the Tokenized protocol. Transactions allocate tokens via a UTXO and an OP_RETURN output describing the details of the token.

fabriik supports paymail so that beta testers can easily send tokens to others. A secret code kept offline by the user is required to spend the funds for security purposes. According to Bayesian, this will be a simplified experience in the future.
While a UTXO-based solution is implemented, the status of the token is validated by an offline agent. For the time being, this is how Bayesian is addressing the 'back to genesis' problem that all token protocols face.

fabriik has built a proprietary portfolio for the beta version, a situation that needs to change for the tokens to gain ground. Give the status of tokenisation on BSV to date, no existing portfolio supports tokens at all. Not only must portfolios provide a user interface, but they must also allow users to select entries when spending Bitcoin, otherwise tokens may be accidentally spent.

This was also a concern of Elas Digital . The whole space can be further slowed down if each token company has to create its own portfolio. A positive implication of fabriik's work is that it could start to put pressure on wallets to include tokens, as the first wallet will have a disproportionate advantage in doing so. In addition, Bayesian intends to allow existing BSV and multi-asset portfolios to connect to the fabriik platform, encouraging more interoperability.

Overall, Bayesian's views are welcome as they do not necessarily seek to compete with other platforms but to host them. If Bayesian succeeds in integrating different protocols, they can absorb the complexity that other companies would have to build, moving the whole space forward.

fabriik strives to be the "one-stop shop" for tokenisation " . A powerful network effect could emerge by bringing together the various low-level tokens developed on BSV so far in one place on a register that can manage volume and keep costs down.

Further information at https://medium.com/.../we-believe-in-open-finance-da34a782fcd3.../we-believe-in-open-finance-da34a782fcd3

#bsv #bitcoinsv #BitCoin #nft #blockchain #tokenized #paymail #moneybutton #fabriik