Bitcoin Cash [BCH], an offshoot of a protocol known for its non-support for smart contracts, recently had an addition that may allow it to support such contracts. This is the brainchild of developer Tendo Pein, who has now launched a high-level smart contract language known as Spedn for use with the Bitcoin Cash blockchain.
This comes after the May 2018 hard fork enforced the re-activation of several unique opcodes to the Bitcoin Cash network. Most famous of this is the OP_RETURN opcode, which is said to be the groundwork for a concept known as colored coins.
Pein, in a blog post, detailed his drive behind wanting to create the language. He, as a developer, had faced a lot of issues with Script, the programming language used to develop on the Bitcoin Cash network. He stated that he felt like it was a language made with “the sole purpose of making your brain hurt”.
This led to him finding the inspiration for Spedn, a programming language set to interface with Script, to make development for the BCH network easier. Moreover, this also opens up space for more complex smart contracts and brings along a host of improvements over using Script.
This includes the functionality of being statically typed, which allows it to detect many errors while compiling. It is also explicitly typed, leaving developers no guessing room to the return value, and is purely functional, meaning that it is free of side effects. Moreover, it also has a syntax similar to C, a programming language that many developers utilize or have utilized in the past.
This language can be used to execute a specific implementation of zero-confirmation transactions, as mentioned in its resources. The implementation is a proposal by developer Awemany, which is achieved through a procedure known as zero-confirmation forfeits.
This marks the birth of accessibility for building smart contracts on the Bitcoin Cash blockchain, even as the project is still in the working stages. This gives the network more utility for future implementation.
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Bitcoin Cash would be a perfect global coin for daily spending, claims Chainblock’s Federico Pecoraro
Federico Pecoraro, CEO of Italy-based crypto-company, Chainblock, made waves in the cryptospace after he suggested that Italians were shifting to cryptocurrencies owing to the country’s growing economic problems. The 2008 financial crisis hit the Italian economy badly, largely due to the huge public debt accumulated after years of excessive public spending.
According to Federico Pecoraro, the state of affairs offers an opportunity for many people and businesses to benefit from using decentralized money. In what is the most newsworthy bit of his take, he said that Bitcoin Cash (BCH) could be the cryptocurrency that would fit perfectly as a real global coin for daily spending, despite the fact that Bitcoin (BTC) is more likely to emerge as a better store-of-value. He added,
“We’re proud to support it on our products. Indeed, our clients have the opportunity to buy BCH through any of our services.”
Pecoraro also spoke about how Chainblock used the crypto-winter to develop new products and expand its customer base. He revealed that by the end of 2018, Chainblock recorded a 156% increase in transactions and a 144% increase in new users. Federico Pecoraro told Bitcoin.com,
“We love small businesses that want to accept crypto payments but we want to enable as many merchants as we can with a strategic market approach. Our goal is to provide affordable and scalable solutions for both big and small shops and spread real cryptocurrency mass adoption. We plan to enable 5,000 merchants to accept Bitcoin payments.”
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