Bitcoin Script and Onchain Contracts: Two High-Level Programming Languages for Bitcoin Cash
Last May, the software developer and creator of revoke.cash, Rosco Kalis, released Cashscript version 0.4 that included a number of optimizations. Cashscript’s new website highlights the high-level language that “offers a strong abstraction layer over Bitcoin Cash’ native virtual machine, Bitcoin Script.” Additionally, the developer Tendo Pein recently announced the “high-level smart contracts programming language for Bitcoin Cash” called Spedn now has a new website.
Rosco Kalis is a software developer who is involved with a number of different cryptocurrency projects. For instance, Kalis created revoke.cash, a platform that allows people to inspect certain decentralized app (dapp) contracts that they approved to spend ERC20 tokens in the past. The tool provides people with the ability to revoke access for the ones they no longer need.
Kalis is also a software engineer for the General Protocols team and he’s contributing to the Anyhedge project. Moreover, Kalis has also been working on a high-level language for Bitcoin Cash called Cashscript. Our newsdesk spoke with Kalis in May 2019 when he told our readers about the Software Development Kit (SDK) and the syntax of the language which was inspired by Ethereum’s programming language. A year later, Kalis revealed Cashscript version 0.4 on May 25 and a new website called cashscript.org.
On July 10, Kalis released Cashscript version 0.4.3, “which includes some smaller bytecode optimisations,” according to the developer. The initial release of Cashscript version 0.4 came with Bitwise operators, Variable size NUM2BIN, a Fluent Transaction interface, Manual UTXO selection, among other improvements. The website cashscript.org’s about section says:
Cashscript is a high-level programming language for smart contracts on Bitcoin Cash. It offers a strong abstraction layer over Bitcoin Cash’ native virtual machine, Bitcoin Script. Its syntax is based on Ethereum’s smart contract language Solidity, but its functionality is very different since smart contracts on Bitcoin Cash differ greatly from smart contracts on Ethereum.
In addition to Kalis’s recent 0.4.3 release on July 6, the software developer, Tendo Pein, explained that the high-level programming language Spedn now has a new website. “Spedn has got a new homepage: spedn.pl,” Pein tweeted.
News.Bitcoin.com reported on the Spedn project on October 25, 2018. The sleek new purple colored website explains that Spedn is a “high-level smart contracts programming language for Bitcoin Cash designed for explicitness and safety.”
The website notes that Spedn offers static typechecking, which offers the detection of many errors at compile time. Pure functions that are free of side effects, the common source of bugs. Explicitness, which means no guessing what the expression is supposed to return and Curly braces which is similar to C#, Dart, or Rust.
Spedn is also used by the General Protocols team, Flipstarter, Karol Trzeszczkowski’s recurring-payment Electron Cash plugin, the mistcoin project, and the synthetic derivatives Anyhedge concept.
Both programming language projects are very meaningful to the Bitcoin Cash ecosystem and BCH supporters look forward to projects that leverage them. Right now these projects are offer insight into the start of the fascinating world that can happen with Bitcoin script and onchain contracts.
Additionally, Rosco Kalis has published a comprehensive analysis in regard to the vast difference between the Turing-complete smart contracts offered on Ethereum, and the contract capabilities using Bitcoin script.
What do you think about Cashscript and Spedn? Let us know what you think about these Bitcoin Cash programming languages in the comments below.
The post Bitcoin Script and Onchain Contracts: Two High-Level Programming Languages for Bitcoin Cash appeared first on Bitcoin News.
“Bitcoin Could Go to $1,000,000”
Kraken’s head of business, Dan Held, has been involved in crypto since 2013. In his latest interview with Cointelegraph, he dives into the early crypto meetups in San Francisco’s Mission District and explains how the price of one bitcoin could eventually reach a million dollars.
Watch the full interview for a trip down memory lane and a roadmap of Bitcoin’s future. Held also explains why Bitcoin could become a “very boring” asset and why he believes it’s time to stop experimenting with altcoins.
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Bitcoin is famous for its volatility, but Held thinks that won’t always be the case. He believes Bitcoin to be a digital gold. With that thesis comes the expectation that there will be immense growth in the asset’s market capitalization.
“Bitcoin in its final stages decades from now will be something very boring. Like our grandkids will go, “Grandpa, Grandma, I only hear about Bitcoin. Everyone’s got bitcoin.” It’s like who cares? Like it’s a boring investment. It’s like holding cash”
Held predicts Bitcoin to hold from five trillion to one hundred trillion dollars of value in its “final stages.” This would result in a transformation from a highly volatile asset to a “very boring” currency.
Held’s belief in Bitcoin is unshakeable. He’s seen his net worth go up and drop 80% three times. And yet, 90% of his current net worth remains in Bitcoin. His unwillingness to diversify his portfolio comes from a staunch belief that blockchain technology is only useful for Bitcoin.
“Satoshi purposely built blockchain tech to build Bitcoin. Blockchain tech sucks. It’s terrible. It makes so many tradeoffs to build bitcoin that it is basically ineffective for almost anything else.”
Under this line of thought, which he calls “Bitcoin Minimalism” to spite Vitalik Buterin, he doesn’t see a reason for altcoins to exist. To Held, altcoins are just experiments that have yet to prove blockchain is useful for anything but Bitcoin.
For more crypto interviews, market updates, and everything in between, head over to the Cointelegraph YouTube channel and hit that subscribe button!
Unitize Conference Covers Ground, Mulls Blockchain Adoption and DeFi
Retail and enterprise blockchain adoption trends dominated the discussions on days three and four of the ongoing virtual conference Unitize, organized by BlockShow and San Francisco Blockchain Week and sponsored by crypto derivatives exchange ByBit.
The key topic that dominated discussion was blockchain adoption, which continues to spread across the globe, with governments and corporate establishments developing solutions based on distributed ledger technology.
Speaking during one of Wednesday’s panels at the conference. Yi Ming Ng, a member of the Tribe Accelerator project in Singapore, and Marloes Pomp, a blockchain consultant with the Dutch government, shed light on the emerging landscape of the novel tech in Singapore and the Netherlands.
Ng and Pomp revealed initial reluctance from different quarters toward pursuing blockchain adoption. According to Ng, corporate establishments in Singapore viewed the novel tech through the jaundiced lens of initial coin offering scams. For Pomp, the Dutch government was not keen on considering blockchain adoption back in 2016. However, both panelists revealed that the initial blockchain apathy soon gave way to serious considerations about adoption.
According to Ng, about $30 million has been raised over the last 18 months to fund 29 Singaporean blockchain startups. These projects are developing DLT-based solutions for industries such as healthcare, finance and supply chains among others. For Pomp, the Dutch government could try to emulate Singapore in taking an active stake in the country’s blockchain development. The government consultant declared that the ongoing COVID-19 pandemic might spur authorities to take a greater interest in the novel technology.
The penetration of blockchain in Singapore has reportedly put the country in the position of being one of the largest adopters of the technology in Asia. Speaking at Unitize, Benjamin Soh, founder of blockchain development firm Hashstacs — otherwise known as Stacs — declared that the Southeast Asian nation is the closest to utilizing DLT in its financial infrastructure.
According to Soh, apart from Switzerland, Singapore dwarfs European countries in terms of blockchain adoption. The Stacs founder also revealed that other Asia-Pacific nations such as Thailand, China, South Korea and Japan are pushing the boundaries of DLT utilization.
Since its inception, blockchain has been linked with disrupting global finance, and this trend is reportedly developing in the Asian markets. Appearing at Unitize, Vinay Mohan, an early member of ConsenSys Singapore, remarked that small and medium-scale enterprises struggling with financing from mainstream channels are increasingly turning to blockchain-based capital streams.
Indeed, Sheila Warren, head of blockchain at the World Economic Forum, also echoed similar sentiments during her appearance at Unitize on Wednesday. According to Warren, people and businesses disenfranchised by the legacy financial apparatus will pivot to blockchain systems. Commenting on the potential for greater blockchain adoption among the unbanked and underbanked demographics, Warren remarked:
“We have to look at what is actually the lowest hanging fruit there. Well, oddly enough, it’s people who have been excluded from traditional systems for whatever reason. They’re the hardest to build for in many ways, but they’re the people most willing to accommodate or try something new. […] If you’re not plugging those people in, then you’re not aware of what’s needed.”
While Europe may be lagging behind Asia in blockchain utilization, the Italian Banking Association, otherwise known as ABI, is already using a DLT-based system called Spunta. Speaking at Unitize on Wednesday, ABI’s chief innovation officer, Silvia Attanasio, revealed that Spunta is a permissioned information relay protocol being used by 32 banks in the country. According to Attanasio, Spunta replaces the old interbank data sharing paradigm that required banks to hold information and communicate with a central server. The ABI executive also added that the blockchain-based system will replace the old relay infrastructure by the start of October.
One of Thursday’s panels at the conference involved Sergey Nazarov, CEO of Chainlink, who expressed optimism that enterprise smart contract adoption was on the rise. Nazarov, however, argued that a more broad-based DLT utilization hinged on the creation of interface points between public and private networks.
According to Nazarov, organizations do not always need to run their entire operations on the blockchain. Instead, companies can utilize oracles or other connection vehicles to access the required DLT solutions for their business process.
Amid the rising adoption of blockchain, Ali Loveys, chief privacy officer of ConsenSys Health, said that value creation, not tech innovation, will be the major hurdle for the emerging technology. She added that blockchain innovation needs to focus on working out a tangible business value that appeals to the greatest majority of potential adopters. Loveys also stated:
“The challenges are always less about the technology than about the business value and the people who are interested in using it or resistant to using it. […] I don’t come in to sell blockchain, I come in to talk about business issues and where we find a good fit, and we move forward.”
Crypto security has also been a topic of discussion over the last two days at Unitize. According to Lucas Nuzzi, a researcher at cryptocurrency analytics platform Coin Metrics, exchanges can fight hackers by renting mining hashing power.
Nuzzi revealed that hacked platforms could roll back affected tokens before the transaction confirmation threshold by renting hashing power online. However, the Coin Metrics researcher said such blockchain reorganizations would only be feasible with smaller cryptocurrencies, stating:
“It’d actually be impossible for exchanges, or any entity really, to reorg BTC via NiceHash. This could, however, be an effective counterattack on smaller chains with more niche hashing algos, like Lyra or Equihash.”
For Richard Ma, co-founder of blockchain security firm Quantstamp, security is the major hurdle for the decentralized finance space. On Thursday, Ma argued that rogue actors are looking to exploit vulnerabilities in DeFi platforms, as was seen several times this year already. He suggested that DeFi protocols should adopt robust auditing and security monitoring processes.
Other highlights from the conference include crypto venture capitalist Brock Pierce explaining the reason for his decision to enter the United States presidential election. Peirce remarked that his presidential ambition was sure to put crypto and blockchain on the political agenda for the country:
“We need people that understand what’s actually happening in the world right now. Those of us in this business on the front lines are actually designing the tools, creating the systems that are going to create the future that we’re all going to live in.”
Published at Fri, 10 Jul 2020 16:17:00 +0000-Unitize Conference Covers Ground, Mulls Blockchain Adoption and DeFi
Author: ByBitcoin News