TL;DR: “BTC2 is live on SideShift AI,” the company’s Twitter account announced. “BTC2 is a token on the Bitcoin Cash blockchain using SLP TECHNOLOGY. It is 1:1 backed by on-chain BTC. By using BTC2 EARLY ADOPTERS can transact BTC for the same price as BCH.”

SideShift AI Introduces Transacting in BTC for the Same Price as BCH

SideShift AI is an automated coin swap, following in the tradition of predecessor ShapeShift.io but without the onboarding hassles of KYC and other potential advantages. Users of SideShift swap between dozens of cryptocurrencies. It’s currently only available to those with access codes, and promises to be gradually open to the public, launching after extended testing and feedback.

“BTC2 shares similarities with USDT,” according to the site. “As USDT [is] an IOU for USD where Tether holds the actual USD in their bank, SideShift AI is the custodian of the on-chain BTC and issues the BTC2 token in return.” And it should be noted BTC2 is not be confused with the BTC forked project currently listed on CoinMarketCap, Bitcoin 2 (BTC2) popularly thought to be a classic pump and dump.

BTC2 is live on SideShift AI BTC2 is a token on the Bitcoin Cash blockchain using SLP TECHNOLOGY. It is 1:1 backed by on-chain BTC. By using BTC2 EARLY ADOPTERS can transact BTC for the same price as BCH. 🎈 LEARN: https://t.co/K7IAyYdXlg

ACCESS CODE: https://t.co/mkkG9sXcig pic.twitter.com/jAoByxAJUq — SideShift AI CRLF (@sideshiftai) June 14, 2019

Instead it’s yet another example of the SLP token innovation happening within the Bitcoin Cash (BCH) ecosystem. “EARLY ADOPTERS are able to buy 1 BTC2 on SideShift AI for the price of 1 BTC and sell BTC2 to SideShift AI for the price of 1 BTC,” the site insisted. Cryptocurrency exchange CoinEx more recently announced its listing of HonestCoin (USDH), a first regulated stablecoin issued on BCH as an SLP token.

SideShift AI last month revealed through its founder, Andreas Brekken of Shitcoin.com, how it was enabling JavaScript to be used in conjunction with the BCH coin mixing tool, CashShuffle. Not too long after, SideShift became the first-to-market service of its kind to incorporate CashShuffle, improving upon cash-like properties so desirous by enthusiasts for greater transaction privacy.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.

CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.