Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: TomPluz on September 05, 2021, 05:53:56 AM
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One of the biggest driving force for the growth of Ethereum and now also with Solana and soon with Cardano is smart contracts. For me, smart contracts can be so useful in so many ways as it allows people and organizations to be "trusting" as parties in an agreement which is "a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code (https://www.investopedia.com/terms/s/smart-contracts.asp)."
Now, I am just wondering...will smart contract eventually come to Bitcoin? I heard of this proposition before but until now I still have to see one. Just imagine how much growth Bitcoin will further experience if smart contracts can also be available with it...
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One of the biggest driving force for the growth of Ethereum and now also with Solana and soon with Cardano is smart contracts. For me, smart contracts can be so useful in so many ways as it allows people and organizations to be "trusting" as parties in an agreement which is "a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code (https://www.investopedia.com/terms/s/smart-contracts.asp)."
Now, I am just wondering...will smart contract eventually come to Bitcoin? I heard of this proposition before but until now I still have to see one. Just imagine how much growth Bitcoin will further experience if smart contracts can also be available with it...
Good question, me to. I have think, if smart contract come to bitcoin we will see bitcoin as the King of crypto currency, cannt be replaced for along time.
Bitcoin will be superior, because as long as bitcoin hasnit smart contract, ethereum and other will be solution.
So, lets wait
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This is what I found about it:
The upcoming Bitcoin update Taproot should now proceed in such a way that it combines the public keys of the users participating in a smart contract into a new public key. This key can then create a unique signature that is only valid for that particular combination of addresses.
Such so-called Schnorr signatures (after the German mathematician Claus Schnorr, who invented them in the 1970s) hide the public keys of the individual users in every smart contract and drastically reduce the space required.
On the one hand, only the combined public key is visible on the blockchain, which improves security and privacy. On the other hand, the smaller space requirement leads to significantly lower transaction fees. That should be particularly interesting after a new high in fees was only registered last April in the wake of the Bitcoin price increase.
Taproot eliminates overhead and significantly simplifies smart contracts
These two changes mean that even complex smart contract interactions will look like simple payments between two public keys. This could turn the Bitcoin network into a serious competitor for Ethereum. The project has the higher market value anyway.
An economically viable and high-performance defi platform on the Bitcoin blockchain would most likely meet with considerable interest.
Taproot is scheduled to start in November 2021.
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Good question, me to. I have think, if smart contract come to bitcoin we will see bitcoin as the King of crypto currency, can not be replaced for along time. Bitcoin will be superior, because as long as bitcoin hasn't smart contract, Ethereum and other will be solution.
So, lets wait..
Smart contract is the best reason why we have Ethereum and why despite the incredible gas fees the network continues to be growing and though there are now competitors with a lot cheaper transaction fees it still continue to dominate and just wait when the gas can be fix and we can see Ethereum to soar into the sky. Now, if smart contracts can be done with Bitcoin then we can see it ballooned in use-case beyond being a store of value thing. And I think I already two projects doing this...let's hope they get into a viable and sustainable phase so we can see them in the marketplace.
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I'm not sure smart contracts will come to Bitcoin, my reasoning is that Bitcoin is already popular without having to bring smart contracts. Then if smart contracts are present in Bitcoin, will there be new projects that use them? Because I believe the expensive fees that will be given, will be the first consideration of new Crypto Projects.
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I'm not sure smart contracts will come to Bitcoin, my reasoning is that Bitcoin is already popular without having to bring smart contracts. Then if smart contracts are present in Bitcoin, will there be new projects that use them? Because I believe the expensive fees that will be given, will be the first consideration of new Crypto Projects.
Bitcoin team is anonymous, I don't think their team will create smart contract platform.
without smart contract platform, bitcoin is the biggest and most popular.
So, I think It won't happen.
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I heard about a few projects that are developing smart contracts for Bitcoin, applying to layer-2 of Bitcoin but temporarily they are not able to launch a complete and useful product for the community. If they succeed, we will have smart contracts backed by the world's most secure blockchain network.
That will change the entire crypto market.
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As Bitcoin becomes a cryptocurrency, its proliferation will increase day by day. Because Bitcoin has gained immense popularity all over the world, this Bitcoin will only continue to gain popularity day by day. If Bitcoin is further developed then of course its success will come more.
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One of the biggest driving force for the growth of Ethereum and now also with Solana and soon with Cardano is smart contracts. For me, smart contracts can be so useful in so many ways as it allows people and organizations to be "trusting" as parties in an agreement which is "a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code (https://www.investopedia.com/terms/s/smart-contracts.asp)."
Now, I am just wondering...will smart contract eventually come to Bitcoin? I heard of this proposition before but until now I still have to see one. Just imagine how much growth Bitcoin will further experience if smart contracts can also be available with it...
I think It's impossible, because until now we didn't know who is the man behind bitcoin.
I don't believe bitcoin team will improve btjeir project and has smart contract platform.
It seems will never happen at bitcoin.
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An interesting idea, I think that over time this can happen because bitcoin will need changes, the only question is how to do this if it does not have a team like other coins
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Now, Internet Computers have taken one more step into the future. Its community recently voted for and approved the “Improved Storage Tube” as Internet Computers continues to integrate more features and improve its platform. Furthermore, the community will use the power provided by the Internet Computer governance model to opt for integration with the Bitcoin blockchain. In practice, this would allow Bitcoin to have the functionality of smart contracts (or Canisters, as they are called in Internet Computers) on Internet Computer Networks with low-cost transactions and fast settlement. Thus, the decentralized ecosystem in both networks can evolve into an unprecedented era.
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One of the biggest driving force for the growth of Ethereum and now also with Solana and soon with Cardano is smart contracts. For me, smart contracts can be so useful in so many ways as it allows people and organizations to be "trusting" as parties in an agreement which is "a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code (https://www.investopedia.com/terms/s/smart-contracts.asp)."
Now, I am just wondering...will smart contract eventually come to Bitcoin? I heard of this proposition before but until now I still have to see one. Just imagine how much growth Bitcoin will further experience if smart contracts can also be available with it...
So far, I didn't see bitcoin team will improve their project to create smart contract platform.
Bitcoin is the pioneer of crypto currency and I see their team is anonymous. So, maybe It will never happen.
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Yes of course. There is no doubt that smart contracts will come to bitcoin. Because bitcoin is a very popular coin. Bitcoin is the king of all coins. Slowly the market of bitcoin is spreading all over the world.
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I also hope Bitcoin has smart contracts soon so people can use Bitcoin for more purposes, but maybe those purposes have been realized by altcoins ETH, SOL, NEAR, DOT… Bitcoin should become assets of the world to coexist with gold.
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Yes of course. There is no doubt that smart contracts will come to bitcoin. Because bitcoin is a very popular coin. Bitcoin is the king of all coins. Slowly the market of bitcoin is spreading all over the world.
Where is bitcoin developer ??
They are anonymous, I think It's impossible bitcoin will be smart contract platform, because no one will improve bitcoin project.
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Yes of course. There is no doubt that smart contracts will come to bitcoin. Because bitcoin is a very popular coin. Bitcoin is the king of all coins. Slowly the market of bitcoin is spreading all over the world.
Where is bitcoin developer ??
They are anonymous, I think It's impossible bitcoin will be smart contract platform, because no one will improve bitcoin project.
Agree with this, I think It's impossible because we didn't know who is bitcoin developer, where are they ??
I think smart contract will never come to bitcoin.
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I think It's impossible because we didn't know who is bitcoin developer, where are they ??
I think smart contract will never come to bitcoin.
yeah, I think impossible smart contract will come to bitcoin.
As many opinion here, there is a reason why never happen.
Because bitcoin developer is anonymous
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NO, I don't think smart contract will be integrated on the Bitcoin network, now or in the future. The creator of Bitcoin are not Known till date, and it obvious that the inventor(s) of Bitcoin are not gonna surface, and even if they surface, there may be big doubt from the general public about whether they are the real inventors. In short, smart contract on Bitcoin is very doubtful.
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Why would he strain his network because of this if he is doing very well, and if there are more smart contracts, the transaction will increase and that means the price. Because of this, Bitcoin may sink in the market and its price will slowly fall.
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One of the biggest driving force for the growth of Ethereum and now also with Solana and soon with Cardano is smart contracts. For me, smart contracts can be so useful in so many ways as it allows people and organizations to be "trusting" as parties in an agreement which is "a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code (https://www.investopedia.com/terms/s/smart-contracts.asp)."
Now, I am just wondering...will smart contract eventually come to Bitcoin? I heard of this proposition before but until now I still have to see one. Just imagine how much growth Bitcoin will further experience if smart contracts can also be available with it...
I think It's just rumours, I personally don't believe smart contract platform will come bitcoin.
Bitcoin and Ethereum is different thing
Ethereum is still the King of smart contract platform until there's alternate smart contract which replace Ethereum.
But not bitcoin.
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Although I welcomed the idea of smart contracts into Bitcoin, but we are not sure how they can do that. I’m not saying that it’s impossible. Maybe it can be if Satoshi reemerges and unleashes his wisdom, intelligence and some “magic” to make BTC’s blockchain capable of hosting smart contracts like Ethereum, Binance Smart Chain, Polygon and other ones out there.
But just like Ethereum, the downside of BTC are transaction fees and the duration of its confirmation from the miners if smart contracts do happen within the Bitcoin network.
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It's difficult to explain this kind of understanding because Bitcoin doesn't need smart contracts to be able to create tokens again and Bitcoin is still as usual with the type of mining coin that I don't understand further how it works.
But if you use erc20 and bep20 tokens, you definitely need to create a pegged Bitcoin which is equal in price to Bitcoin core and we can check it with smart contracts that are trusted and listed on Coinmarketcap.
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I'm happy if this could happen, it means that someone who created Bitcoin will come back and create this idea (Smart Contract). But I will refuse again if this happens, because I believe the transaction fees will be very high later. It is enough for one Bitcoin to grow on this network, and let the networks of Ethereum, BSC, Solana, Polygon etc. have smart contracts.
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I'm happy if this could happen, it means that someone who created Bitcoin will come back and create this idea (Smart Contract). But I will refuse again if this happens, because I believe the transaction fees will be very high later. It is enough for one Bitcoin to grow on this network, and let the networks of Ethereum, BSC, Solana, Polygon etc. have smart contracts.
You're right, bitcoin developer will come back and create smart contract platform.
But I think Impossible.
Because sathosi is anonymous, Until now, no one know who is he ?
I don't believe bitcoin will have smart contract platform. That's my opinion.
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Smart contracts are self-executing transactions which result depend on pre programmed input.
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I've never heard of Bitcoin being able to create Smart contracts to be on the blockchain and that would be very difficult to achieve because Bitcoin's working system is different from altcoins.
I also believe that Bitcoin is not necessary for Smart contracts because Bitcoin already has a big role in the creation of cryptocurrencies, let altcoins create Smart contracts because it is an advantage for altcoins, not for Bitcoin.
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This is not necessary, I personally have no idea that smart contracts will be present in Bitcoin.
I agree with my friends here, that this would be very expensive if smart contracts were present in Bitcoin.
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I've never heard of Bitcoin being able to create Smart contracts to be on the blockchain and that would be very difficult to achieve because Bitcoin's working system is different from altcoins.
I also believe that Bitcoin is not necessary for Smart contracts because Bitcoin already has a big role in the creation of cryptocurrencies, let altcoins create Smart contracts because it is an advantage for altcoins, not for Bitcoin.
Bitcoin is the King of crypto currency and always remaining be the King.
Not necessary for bitcoin to create smart contract, I agree with you bitcoin is the trend centre and has a big role as the pioneer of crypto currency.
Altcoin should create smart contract to gain more popularity.
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Rootstock was an idea to build smart contract on bitcoin. Its works as bitcoin sidechain, it has the same value as bitcoin and when bitcoin is transfered to the blockchain it turns to RBTC. This medium explains more on it https://medium.com/@NovaMining/rootstock-rsk-smart-contracts-on-bitcoin-9ef28e135193
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reserved
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This is not necessary, I personally have no idea that smart contracts will be present in Bitcoin.
I agree with my friends here, that this would be very expensive if smart contracts were present in Bitcoin.
Yeah, it's not necessary. Bitcoin is the pioneer of crypto currency, unique and has the biggest fans.
So I think bitcoin doesn't need smart contract platform being adopted at bitcoin.
Bitcoin will always be The King of crypto currency, although didn't have smart contract platform. I agree with this opinion.
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https://coinmarketcap.com/currencies/wrapped-bitcoin/
If you look at Bitcoin combined with WBTC, it is certain that there are a lot of smart contracts circulating.
I see that WBTC already has more advantages than other altcoins that are able to create smart contracts for Bitcoin.
That is, in every different coin blockchain there must be smart contacts that can provide different opportunities, whether it's from Ethereum, Polygon, Fantom, Avalanche, Tomo, Arbitrum, Zilliqa, Cronos, Harmony etc.
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Wbtc is wrapped bitcoin but not from bitcoin project.
I think bitcoin will never adopt smart contract platform.
As many people opinion here said bitcoin is unique and didn't need to have smart contract platform.
Without smart contract platform, Bitcoin is so popular.
I think bitcoin will exist and be the King of crypto currency until the next several years again.
no needs being improve their project.
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Bitcoin cannot make itself into smart contracts, Bitcoin has a patented system like it was first created and until now Bitcoin is very insensitive to Smart contracts.
I see the function that Bitcoin is definitely the first coin in cryptocurrency and the matter for Smart contracts is presented by altcoins or alternative coins which are certainly created by Ethereum, Binance Smart Chain and various altcoins.
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Bitcoin cannot make itself into smart contracts, Bitcoin has a patented system like it was first created and until now Bitcoin is very insensitive to Smart contracts.
I see the function that Bitcoin is definitely the first coin in cryptocurrency and the matter for Smart contracts is presented by altcoins or alternative coins which are certainly created by Ethereum, Binance Smart Chain and various altcoins.
Yeah, bitcoin cannot make itself into smart contract, because bitcoin is unique .
Bitcoin developer is anonymous, who is Sathosi..
No one know who is he or she .
So, I think bitcoin being leaved developer ,so impossible bitcoin will have smart contract platform.
Bitcoin is bitcoin, remain the King of crypto currency.