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Author Topic: Bitcoin smart contracts  (Read 146 times)
AGK12
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April 01, 2018, 09:49:05 PM
 #1

Can you create smart contracts with bitcoin such as allowing bitcoin to be sent only if the transaction is signed by the receiver or if the scriptsig contains a specific value?
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April 02, 2018, 01:41:33 AM
 #2

I'm not sure about those particular examples, but Bitcoin's scripting system is pretty extensive. Additionally, RSK is a Bitcoin sidechain that features smart contracts written in Solidity.

See https://en.bitcoin.it/wiki/Script and https://www.rsk.co/

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April 02, 2018, 04:20:17 PM
 #3

Smart contracts have been famous mostly on the ethereum blockchain, but most of the devs prefer smart contracts to be made on the ethereum block chain than the btc blockchain. As eth blockchain can be used to create a very complex smart contract, some projects have proved that a simpler and better contract could be created with btc. But on the contrary, eth contracts are highly developed by complex codes which is not the case with btc.

But this could be achieved by using the features which are implemented to the btc by the BIPs. For example consider this BIP which was a important improvement and this feature could be used in the creation of smart contract like script.  This particular code helps to prevent funds from being spent from a multisig wallet until certain amount of time passes or until all the buyers or sellers signs the transaction.

I may even be wrong in explaining things

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April 03, 2018, 04:40:26 PM
 #4

Bitcoin can only have smart contracts on a side chain. It is not feasible to introduce smart contracts into the main chain as is the case with Ethereum and Cardano. RSK is the best known project in this sense, but it is still in beta. It was released in January on mainnet after more than 3 years of development.
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April 03, 2018, 05:07:59 PM
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 #5

It's possible, but current Bitcoin isn't user friendly since it's stack-based programming language and you can't create complex smart contract since Bitcoin scripting isn't turing-complete (no iteration/looping).
There are project such as Ivy which make Bitcoin scripting/smart contract more user-friendly.

I'd recommend popular altcoin with smart-contract if you really need smart contract capability.

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April 03, 2018, 06:39:19 PM
 #6

Hopefully it will never happen. It could mean the end of all the other smart contract based chains.
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