New specifications make Bitcoin a Smart Contract Contender

On May 16th, 2018, BCH will be hard working because of their scheduled 6M update schedule, and the most exciting things that will be added in the upgrade is the re-enabling of some of the old OP_CODES, which were disabled by the core developers as they were afraid that they may be insecure or open up attack vectors on the network back when the codebase was immature, and the network was small.

bitcoin blockchain

For all the computer scientists reading this, the most interesting instructions are OP_CAT and OP_XOR. (Concatenate, and logical XOR). I won’t go into the importance of these instructions, but for those who are interested, you can read how Bitcoin is effectively a Turing machine. This implies that arbitrary calculations can be done on Bitcoin while using a method that separates the DATA and CODE from the proof of execution.

For the technically inclined, the analogy is that the Bitcoin blockchain transactions effectively becomes a microinstruction table, a group of CPU registers, and a program stack pointer. All the data, code and storage is elsewhere. These specifications make Bitcoin model much simpler to use than the Ethereum model, which stores and computes everything on the blockchain nodes.

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About The Author

As a member of the VegasMaster writing staff, I pride myself on delivering quality information about my favorite topic: the online gaming industry. In addition to playing a wide-variety of online casino games, I keep up on the latest iGaming news and trends. My passion for the industry has made me both an experienced player and researcher.

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