Bitcoin.com’s Oracle Aims to Bolster BCH-Powered Smart Contracts

Bitcoin.com’s Oracle Aims to Bolster BCH-Powered Smart Contracts
фото показано с : news.bitcoin.com

2018-12-19 09:35

Bitcoin.com is pleased to unveil plans to offer one of the world’s first oracles for smart contracts on the Bitcoin Cash (BCH) blockchain. The autonomous feature will allow specialized prediction markets and decision-based transactions for sports scores, political results, and market exchange rates.

Also read: How to Spend and Give Bitcoin Cash Over the Holidays

Bitcoin.com’s Oracle Section: Verifiable Multi-Sourced Facts

Since the Bitcoin Cash network upgrades in May and November, the protocol and its scripting language is now far easier for coding smart contracts, decision-based transactions, and predictive oracles. Aided by opcodes like OP_Checkdatasig (DSV) and Bitcoin Cash’s 32MB blocks, BCH is one of the simplest and most secure platforms to build your smart contract. By building the Bitcoin.com Oracle, we plan to utilize the benefits of the BCH network and all the new features added during the last upgrades in order to provide verifiable multi-sourced facts.

The basics of an oracle with enough valid data can prove ideal for executing decisions and triggering smart contracts. Back in the ancient days of civilization, humans often visited oracles, validated reports, created prediction markets, and attempted to forecast the probability of outcomes in order to make better decisions. With the new opcodes like DSV, Bitcoin Cash network participants can validate data when certain conditions are met within the smart contract. BCH-based oracles can theoretically trigger any type of smart contract from any type of data that exists outside the Bitcoin Cash blockchain.

Empowering Global Participation

There are so many use cases for BCH-powered oracles and autonomous contracts that can be executed by using verifiable data. With Bitcoin.com’s Oracle, we hope to provide tools that can monitor personal goals, track sports results, detect exchange rate movements, record social media platforms, and monitor news. Alongside this, you could even track the Bitcoin Cash code repository, pull requests and more with our oracle pulling data from Github’s API and other sources. Historically, oracles have been centralized, but by utilizing the security of the distributed BCH ledger we can trust the autonomous oracles to determine certain outcomes. Going beyond the limits of centralized entities, BCH-based oracles provide the means for global participation because peer-to-peer BCH transactions are cheap and reliable.

At the moment our Bitcoin.com Oracle is still under development. But if you would like to get in on beta access when the code is available, please sign up for our Oracle Newsletter. Furthermore, if you would like to contribute or provide feedback, you can reach out to us through the oracle landing page and we’ll get back to you as soon as possible. “We’d love some help charting out exactly what the most usable platform would look like for the users,” explained Bitcoin.com CEO Roger Ver on the Reddit forum r/btc on Monday.

What do you think about the Bitcoin.com Oracle idea? Let us know what you think about this project in the comments section below.

Images via Shutterstock, and Bitcoin.com Oracle.

Want to create your own secure cold storage paper wallet? Check our tools section.

The post Bitcoin.com’s Oracle Aims to Bolster BCH-Powered Smart Contracts appeared first on Bitcoin News.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66382.39 (+0.16%)
Объем 24H $19.421b
Изменеия 24h: -0.79 %, 7d: 7.73 %
Cегодня L: $66031.14 - H: $66391.13
Капитализация $1307.546b Rank 1
Цена в час новости $ 3894.25 (1604.63%)

bitcoin contracts smart cash aims oracle bolster

Источник: news.bitcoin.com

bitcoin contracts → Результатов: 126


Фото:

Morgan Stanley To Give Clients Bitcoin Trading Options

US multinational investment bank Morgan Stanley is preparing to offer Bitcoin swap trading for its clients, unconfirmed sources report on September 13. Sources Say Morgan Stanley Preparing Swap Trades Citing “people familiar with the matter” in an article from Bloomberg reporter Alistair Marsh, Business Insider’s Frank Chaparro revealed the giant “plans to offer trading in complex derivatives” linked to Bitcoin .

2018-9-13 15:00


Фото:

DevCon 4 Will Set the Stage for Ethereum’s Next Milestone: Constantinople

Ethereum is embracing the Constantinople milestone at the end of November 2018, after DevCon4 in Prague. Constantinople is the latest Ethereum release, introduced through a hard fork, that will include five Ethereum Improvement Proposals (EIPs):Bitwise shifting instructions (EIP 145) in the Ethereum Virtual Machine (EVM) allow for direct manipulation of bytes on the EVM layer.

2018-9-11 18:15


Фото:

Crypto Facilities представила бессрочные фьючерсы на криптовалюты

Криптовалютная торговая платформа из Великобритании Crypto Facilities запустила торги бессрочными фьючерсными контрактами на криптовалюты bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) и Bitcoin Cash (BCH) в паре с американским долларом, а также XRP/BTC.

2018-9-3 14:29


Фото:

California Passes Bill Defining Blockchain and Crypto Terms

A draft law designed to amend California’s legislation to create legal grounds for the implementation of crypto-related technologies has been passed by the state’s legislature. Assembly Bill 2658 amends the California Civil Code, Government Code, Corporations Code, and Insurance Code to legalize the use of blockchain secured data and smart contracts in local and foreign […] The post California Passes Bill Defining Blockchain and Crypto Terms appeared first on Bitcoin News.

2018-9-3 14:05


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Kraken establishes global partnership with Formula 1 team Williams Racing

In a partnership between cryptocurrency and motorsport, leading cryptocurrency exchange Kraken, has announced its partnership with the iconic Formula 1 team, Williams Racing. As Kraken reported on its blog, these two organizations, each known for their pioneering technology, aim to foster a shared vision for the future of finance and community engagement.