Topic: Why don't we have bitcoin smart contract? - page 2. (Read 516 times)
I remember there was one more language (besides Solidity and Bitcoin script) for writing Bitcoin smart contracts. They often referred to it when Solidity came. Can't for the life of me recall the name or even find it anywhere but it was some sort of 3-letter acronym. Does anyone know?
Thanks everyone for sharing so much meaningful information. I really feel that I got more information that I really wanted to be
aware of, yet it is not as promoted / marketed to the masses. I didn't know about Bitcoin already implementing the escrow thing,
nor did I know about RKS, Omni layer , simplicity and scripts.
aware of, yet it is not as promoted / marketed to the masses. I didn't know about Bitcoin already implementing the escrow thing,
nor did I know about RKS, Omni layer , simplicity and scripts.
Most of this is still highly experimental technology so there's no sense in marketing it to the masses (yet). Also, once these technologies are ready for the masses (in terms of maturity and usability), if all goes well they won't be aware that they are using these technologies to begin with.
Case in point: You have never heard of OMNI but you're probably aware of Tether. Well, it's an OMNI token.
We should really start working on user experience.
Lots of wallet projects working on that front. And it makes sense, because that's the part that is facing the user. Smart contracts, DApps? Your average user couldn't care less.
To use internet you don't need to know the OSI structure 
Well one should be aware of at least layer 1 if the router is supposed to work
Thanks everyone for sharing so much meaningful information. I really feel that I got more information that I really wanted to be
aware of, yet it is not as promoted / marketed to the masses. I didn't know about Bitcoin already implementing the escrow thing,
nor did I know about RKS, Omni layer , simplicity and scripts.
What do you think is the next step in this industry? I don't believe it is "mature" yet and there is such a big gap left. We should really
start working on user experience. A Steve Jobs mind would help this be more than just peer to peer cash or an asset. I really think
users coming from backgrounds are not really interested in the "hashing" and all the logic, they just want something to work and this
bitcoin has everything to work, we just need to make people "enjoy it".
Or do you guys believe that my "view" on bitcoin is not as realist and in reality bitcoin is actually working as expected? I just want it
massively adopted! MASSIVELY. Billions of people.
aware of, yet it is not as promoted / marketed to the masses. I didn't know about Bitcoin already implementing the escrow thing,
nor did I know about RKS, Omni layer , simplicity and scripts.
What do you think is the next step in this industry? I don't believe it is "mature" yet and there is such a big gap left. We should really
start working on user experience. A Steve Jobs mind would help this be more than just peer to peer cash or an asset. I really think
users coming from backgrounds are not really interested in the "hashing" and all the logic, they just want something to work and this
bitcoin has everything to work, we just need to make people "enjoy it".
Or do you guys believe that my "view" on bitcoin is not as realist and in reality bitcoin is actually working as expected? I just want it
massively adopted! MASSIVELY. Billions of people.
I can understand your vision but I don't get why smart contracts for bitcoin will help the adoption ? you are talking of billions of people so lambda people I guess.
People do not need to know that bitcoin has smart contracts and they even don"t need to know what a smart contract is.
To use internet you don't need to know the OSI structure
Thanks everyone for sharing so much meaningful information. I really feel that I got more information that I really wanted to be
aware of, yet it is not as promoted / marketed to the masses. I didn't know about Bitcoin already implementing the escrow thing,
nor did I know about RKS, Omni layer , simplicity and scripts.
What do you think is the next step in this industry? I don't believe it is "mature" yet and there is such a big gap left. We should really
start working on user experience. A Steve Jobs mind would help this be more than just peer to peer cash or an asset. I really think
users coming from backgrounds are not really interested in the "hashing" and all the logic, they just want something to work and this
bitcoin has everything to work, we just need to make people "enjoy it".
Or do you guys believe that my "view" on bitcoin is not as realist and in reality bitcoin is actually working as expected? I just want it
massively adopted! MASSIVELY. Billions of people.
aware of, yet it is not as promoted / marketed to the masses. I didn't know about Bitcoin already implementing the escrow thing,
nor did I know about RKS, Omni layer , simplicity and scripts.
What do you think is the next step in this industry? I don't believe it is "mature" yet and there is such a big gap left. We should really
start working on user experience. A Steve Jobs mind would help this be more than just peer to peer cash or an asset. I really think
users coming from backgrounds are not really interested in the "hashing" and all the logic, they just want something to work and this
bitcoin has everything to work, we just need to make people "enjoy it".
Or do you guys believe that my "view" on bitcoin is not as realist and in reality bitcoin is actually working as expected? I just want it
massively adopted! MASSIVELY. Billions of people.
There is definitely one smart contract I'd like for Bitcoin: escrow. We're talking about Bitcoin as a payment tool and (trustless) escrow has got to be one of the things left to develop properly for Bitcoin. I remember first reading about Rootstock (mentioned by Pooya) at some point even in 2016/17 said that they were developing it for that precise usage. Think even Counterparty was supposed to have something like this.
A simple Ethereum script for it has existed for some time. But not for Bitcoin (to my knowledge). I can see that smart contract being put to use daily on this forum, for example. Or for inheritance (if I don't sign my wallet for 7 years, it releases to an heir, for example).
Or do these already exist?
A sort of escrow could be 2-of-2 multisig where seller puts one price and buyer puts two prices. But for it to be efficient both funding transactions should be included in the same block. Meaning that besides the usual transaction hash its counter-party transaction hash also should appear in the Merkle tree. A simple Ethereum script for it has existed for some time. But not for Bitcoin (to my knowledge). I can see that smart contract being put to use daily on this forum, for example. Or for inheritance (if I don't sign my wallet for 7 years, it releases to an heir, for example).
Or do these already exist?
I think OP might be interested in Simplicity:
https://github.com/ElementsProject/simplicity
It's still a long way out but should eventually offer the capabilities of Ethereum-like smart-contracts without the pitfalls that turing-completeness brings.
(keeping in mind that a language does not necessarily need to be turing-complete to be powerful and expressive. matter of fact most critical infrastructure such as military and aeronautical applications follow code conventions that explicitely try to avoid patterns usually associated with turing-completeness such as recursion)
https://github.com/ElementsProject/simplicity
It's still a long way out but should eventually offer the capabilities of Ethereum-like smart-contracts without the pitfalls that turing-completeness brings.
(keeping in mind that a language does not necessarily need to be turing-complete to be powerful and expressive. matter of fact most critical infrastructure such as military and aeronautical applications follow code conventions that explicitely try to avoid patterns usually associated with turing-completeness such as recursion)
There is definitely one smart contract I'd like for Bitcoin: escrow.
Code:
OP_2 OP_3 OP_CHECKMULTISIGVERIFY
This "smart contract" has existed in bitcoin for a very long time! you can also add additional conditions to it such as time with a locktime (OP_CHECKLOCKTIMEVERIFY)is there anything specific you have in mind?
Or for inheritance (if I don't sign my wallet for 7 years, it releases to an heir, for example).
Code:
OP_DUP OP_HASH160 OP_EQUAL
OP_IF
OP_CheckSig
OP_ELSE
OP_CheckLocktimeVerify OP_DROP OP_DUP OP_HASH160
OP_EQUALVERIFY OP_CheckSig
OP_ENDIF
OP_IF
OP_CheckSig
OP_ELSE
OP_EQUALVERIFY OP_CheckSig
OP_ENDIF
if "you" wanted to spend it, you simply provide a
There is definitely one smart contract I'd like for Bitcoin: escrow. We're talking about Bitcoin as a payment tool and (trustless) escrow has got to be one of the things left to develop properly for Bitcoin. I remember first reading about Rootstock (mentioned by Pooya) at some point even in 2016/17 said that they were developing it for that precise usage. Think even Counterparty was supposed to have something like this.
A simple Ethereum script for it has existed for some time. But not for Bitcoin (to my knowledge). I can see that smart contract being put to use daily on this forum, for example. Or for inheritance (if I don't sign my wallet for 7 years, it releases to an heir, for example).
Or do these already exist?
A simple Ethereum script for it has existed for some time. But not for Bitcoin (to my knowledge). I can see that smart contract being put to use daily on this forum, for example. Or for inheritance (if I don't sign my wallet for 7 years, it releases to an heir, for example).
Or do these already exist?
I'm so jealous Ethereum has smart contracts. I want Bitcoin DAPPS.
i honestly don't see the attraction in what ethereum has. specially since so far in the past 5 years of ethereum's existence i have not seen even a single DApps that were remotely interesting or were doing anything meaningful!so if you want to expand bitcoin's script language, you first have to show us where the attraction or need for it is. Vitalik tried for a couple of years to do that in bitcoin and failed...
answer these questions first:
- what would more complex smart contracts (than what bitcoin can currently create) solve?
- what would be the use case of it in real world?
remember that just creating scam ICOs like ethereum is not a reason to do it!
Quote
Can we not have a Layer 3 running an EVM machine on top of both Bitcoin and lightening network?
we already have sidechains and there is at least one project i know of called Rootstock
I'm really thinking on how I can improve Bitcoin to project it to "the next stage"
I'm so jealous Ethereum has smart contracts. I want Bitcoin DAPPS. Can we not have a Layer 3 running an
EVM machine on top of both Bitcoin and lightening network?
It sounds achievable. Any criticism on what would be the problem with this from a technical point of view?
Anyone want to join as core team members?
I'm so jealous Ethereum has smart contracts. I want Bitcoin DAPPS. Can we not have a Layer 3 running an
EVM machine on top of both Bitcoin and lightening network?
It sounds achievable. Any criticism on what would be the problem with this from a technical point of view?
Anyone want to join as core team members?
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