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Cryptocurrency News Articles
Joshua Henslee Is Back: The BSV Developer Re-Emerges With the Bitgear Protocol and Updates to His Tale of SHUA Ordinals Trading Platform
Oct 22, 2024 at 03:00 pm
One of BSV and blockchain's more prolific personalities (both as a developer and online media figure) had been lying low since early 2024
Joshua Henslee, a prominent figure in the BSV and blockchain community, both as a developer and an online media personality, had been lying low since early 2024. However, he recently resurfaced with a new project called the bitgear protocol and updates to his Tale of SHUA Ordinals trading platform.
To get more details on his thoughts, we pinged Henslee, and here’s what he had to say.
BSV is still far superior to other UTXO-based blockchains, and building with BTC/Fractal “feels like going back to riding a horse after I’ve already been on a spaceship to Jupiter,” Henslee told CoinGeek.
Despite this, and much to the chagrin of BSV users, it’s still blockchains like BTC that captivate the public most (along with their money and economic activity). Developers like Henslee and others better known as BSV proponents, such as sCrypt, therefore will build tools aimed at BTC users or those on other UTXO-based blockchains. Anyone can use them, and BSV fans can still enjoy the speed, scalability, price, and extended data feature set their network gives them.
Down to start YouTube videos again, what should I discuss?
The bitgear protocol is one of those. It derives a randomly generated piece of fantasy equipment from the mined hash of a Bitcoin block. It’s different from Henslee’s original “Gear” token collection (which was BSV-only) from about a year ago and had a lock-to-mint feature where users locked their BSV for a few months to get eight randomly generated “pieces of gear.”
“The idea was to create a free mint-style collection like Bitmap, yet tied to a Bitcoin block. Anyone can claim a bitgear, simply by paying the mining fee and writing a text inscription on-chain,” he said.
Though it’s designed to work on BTC, bitgear can be deployed on any blockchain that supports Ordinal inscriptions, as well as having a block hash with hexadecimal representation.
Definitely game-inspired
Henslee’s approach to “crypto” and blockchain is that adoption and growth will come first from within its community, and that attempts to pitch the technology to “non-existent target customers” external to it (e.g., enterprise, government) is a waste of time.
“Governments and enterprises will eventually adopt blockchain; they will just be last,” he wrote after the London Blockchain Conference in 2023.
Instead, new users are drawn in by the prospect of creating trading value from something “that was not tradeable before”—particularly NFT collections and meme coins. Henslee has put his money where his mouth is, in this respect, creating his own personalized meme asset (SHUA coin, BSV’s first fungible token) and platforms to make them more useful, such as SHUAllet, Tale of SHUA, and now the bitgear protocol. These projects and their designs show Henslee knows the younger market he’s appealing to and how to design to its tastes.
“SHUA was the first fungible token on BSV back in 2021, this is where the name comes from,” Henslee said.
“I created the site Tale of SHUA originally to be a dungeon-crawling type game, but realized that was unlikely to get any adoption for the time and investment required to help that. Instead, I made it to issue free mint NFTs that could be used in a dungeon crawler, in hopes of adoption that would spark enough interest, demand, and justification to build such a game. That did not happen, so it has become a marketplace instead. To actually tie together the name to the site, maybe eventually I’ll airdrop the SHUA BSV-21 token to all the RUN holders from RelayX and provide an interface to trade there.”
Today’s Tale of SHUA is a BSV Ordinals trading platform for both NFT collections like Pixel Foxes and fungible tokens like 1SAT, as well as Bamboo, Gear, sMon Robots, sMon Sinners, and Masks of Salvation. Henslee originally built it in 2023 to be mobile-friendly, and it’s also available as a downloadable desktop web app.
“Tale of SHUA only shows markets for fungible tokens and NFTs that I have launched or I think are particularly valuable. I built it to make a simpler, faster, mobile-friendly version of a market as I felt the others that existed at the time were too clunky to use, or only worked with a browser extension. Additionally, I hold many of the assets listed there, so I wanted to provide more liquidity for those. Currently, it is the only BSV market that supports SHUAllet, a browser plugin wallet I also developed last year that is extremely simple and fast.”
Henslee understands
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