Smart Contract in Bitcoin

[razzbee]

According to this: https://www.coindesk.com/smart-contracts-bitcoin-lightnings-tadge-dryja-working/ article, smart contract like feature might happen on bitcoin, wouldn't that be great? what is your view on that?

[OmegaStarScream]

I checked his Twitter and since June when he released the whitepaper, he didn't really talk more about it. Now, I don't know which one is best from a technical point of view but Rootstock (Rsk.co) which is another project to bring smart contracts to Bitcoin managed to raise 3.5MM and they are currently in Beta phase so It's unlikely to see his project coming alive anytime soon as his GitHub doesn't contain anything.

[APICEMTECH]

If bitcoin introduces the smart contracts then I think the value of Etherium might dip. Etherium was solely built because bitcoin did not have smart contracts.

[razzbee]

If bitcoin introduces the smart contracts then I think the value of Etherium might dip. Etherium was solely built because bitcoin did not have smart contracts.

Very True .. and most upcoming Dapps will ditch Eth for bitcoin

[AnisahSiti]

If bitcoin introduces the smart contracts then I think the value of Etherium might dip. Etherium was solely built because bitcoin did not have smart contracts.

Yes, it's true. But whether bitcoin can make a smart contract? I don't think so. Ethereum this is a smart contract.. not Bitcoin

[HeRetiK]

If bitcoin introduces the smart contracts then I think the value of Etherium might dip. Etherium was solely built because bitcoin did not have smart contracts.

Yes, it's true. But whether bitcoin can make a smart contract? I don't think so. Ethereum this is a smart contract.. not Bitcoin

Read OP and the first reply again. There's work being done on bringing smart contracts to Bitcoin via sidechains (ie. RSK) and other approaches. Their viability still remains to be seen however, as earlier attempts at bringing smart contracts to Bitcoin received only luke-warm reception so far once the initial hype subsided -- XCP and Omni (FKA Mastercoin) come to mind.

[ben_btc]

The various "Colored coins" projects were attempting to create a robust smart contract framework for Bitcoin, but because of the difficulty and/or dissatisfaction with their efforts, the Ethereum project was born. Smart contracts may be able to be rooted in Bitcoin but operated through a secondary layer, but robust, pure on-chain smart contracts are not really possible right now in Bitcoin.

[TechPriest]

If bitcoin introduces the smart contracts then I think the value of Etherium might dip. Etherium was solely built because bitcoin did not have smart contracts.

Yes, it's true. But whether bitcoin can make a smart contract? I don't think so. Ethereum this is a smart contract.. not Bitcoin

Bitcoin ALREADY has opportunity to create smart contracts. BUT: Bitcoin uses Script programming language which is not  Turing complete, so it is very hard to code something on it. Ethereum has high level programming languages like Solidity, Serpent (As i know Serpent will be replaced by Viper in near future) and it's very easy to create smart contracts on it.

But you can use any bitcoin framework (for languages like Python or C++ ) and try to create something which will be more or less looks like a smart contract.

[ThatRandom8543]

On top of that, until bitcoin confirmation speeds can improve, I dont think it would be wise to have dapps just yet. Maybe stuff for things like escrow, and other things that a smart contract could make use of, but in terms of tokens (as we see on with eth), probably wont be wise.

[HeRetiK]

Bitcoin ALREADY has opportunity to create smart contracts. BUT: Bitcoin uses Script programming language which is not  Turing complete, so it is very hard to code something on it. Ethereum has high level programming languages like Solidity, Serpent (As i know Serpent will be replaced by Viper in near future) and it's very easy to create smart contracts on it.

[...]

It is worth noting that while it is easy to write smart contracts on Ethereum, it is still very hard to write a bug-free smart contract. Hence the parity hack and what happened to the DAO. Easy to write more often than not translates to easy to fail. If your web app fails -- aw well, just fix it. If your non-reversible multi-million-dollar smart contract fails, that's less fun.

Restrictive scripting and programming languages are much safer in that regard and exist for a reason.

[jal007]

According to this: https://www.coindesk.com/smart-contracts-bitcoin-lightnings-tadge-dryja-working/ article, smart contract like feature might happen on bitcoin, wouldn't that be great? what is your view on that?

what would be the benefit for bitcoint to impliment smart-contract ?

[CaliforniaCrypto]

According to this: https://www.coindesk.com/smart-contracts-bitcoin-lightnings-tadge-dryja-working/ article, smart contract like feature might happen on bitcoin, wouldn't that be great? what is your view on that?

what would be the benefit for bitcoint to impliment smart-contract ?

The idea is that Bitcoin is "old tech". by adding smart contracts it now competes with "new tech" Ethereum.

[nicosey]

You should look at CommerceBlock.  They are implementing that technology.  www.commerceblock.com

[Bearil]

This is quite expected and I think that this will not lead to any consequences other than a increase in the market cap of cryptocurrencies.

[Sergio_Demian_Lerner]

RSK brings smart contracts to Bitcoins as a sidechain. Check rsk.co

RSK code has been open sourced long ago.

You can check its github repo: https://github.com/RSKSmart

The test network has been alive for more than a year! working as a sidechain to the Bitcoin Testnet.

Production launch will be close to the end of the year.

[skjus]

Smart contacts will be very useful in real estate. Problems related to payments to a broker or advertising firms are reduced to zero, as the Blockchain ledger would help contacted directly by the tenant, without intermediaries.

[razzbee]

RSK brings smart contracts to Bitcoins as a sidechain. Check rsk.co

RSK code has been open sourced long ago.

You can check its github repo: https://github.com/RSKSmart

The test network has been alive for more than a year! working as a sidechain to the Bitcoin Testnet.

Production launch will be close to the end of the year.

Looks promising

[nicosey]

Also there was counter party back in the day.

[MFahad]

The smart contracting options are already in all the coins, it not a feature thing really. It is a matter that no one bothers to use half of what these coins can do. They sue what they need and then ignore the rest, but it still there and always had been.

There are ways to do wild things with BTC and you will eventually see many of them.

[SimonJones]

RSK is coming by the end of the year and CIVIC plans to use RSK.