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BCH developers are innovating with Cashscript

The development of Bitcoin Cash (BCH) is in full swing and the last six months, the pace has begun to recover. Things like the Simple Accounting Protocol, Schnorr firms, operation codes, Cashshuffle, Spend programming language and symbolic dividend payments have galvanized the versatility of the network. Another project that is undergoing constant development is Cashscript, a high-level language for BCH created by software developer Rosco Kalis.

when Kalis discussed the number of innovative concepts that can be derived from the use of Cashscript. The main focus for Cashscript developers is to make it easier for other engineers to connect a Cashscript contract in any web application. "For this workflow, as well as the language syntax, we are very inspired by Ethereum's solid language and Web3.js / Truffle libraries," Kalis told our news service at the time.

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Since then, Kalis and other developers such as Gabriel Cardona, the creator of Bitbox, have been anxiously showing the BCH community what Cashscript is capable of. "Cashscript is a paradigm shift in expressiveness for BCH contracts," Cardona explained this week while highlighting a lot of experiments. For example, Cardona showed the BCH community on Twitter how the Patron contract in Cashscript was replicated. The patron was a contract developed by Karol Trzeszczkowski that allows recurring BCH payments. After redesigning the smart contract solution based on the agreement in Cashscript, the developer said "Big contracts like this is where Cashscript shines." a solution to the zero-confirmation problem by using a concept called "Zero Confirmation Loss". Therefore, the developer decided to replicate the idea of zero confirmation loss using the Cashscript language.

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"BCH supports Holding better than BTC"

While displaying Cashscript ported examples on Twitter, Cardona also bowed to developers who helped initiate these ideas such as Tendo Pein, Karol Trzeszczkowski, Rosco Kalis, Emil Oldenburg, Chris Pacia and Tobias Ruck. The next day, on August 25, Cardona showed the public a betting contract for the Emil Oldenburgs on-chain betting example of "Take OP_Checkdatasig for a test drive." The new betting contract was written in Cashscript, which runs an on-chain bet between two parties and can only be resolved by the height of the block and the price signed by an oracle. "Non-custodial financial services are about to change everything," Cardona said. In another example, Kalis and Cardona produced an oracle using Cashscript and OP_Checkdatasig. The contract forces the asset to be maintained until a certain target price is reached. The specifications of the "Hodl-Vault" contract state:

A minimum block is provided to ensure that the oracle price entries are not taken into account before this block: when the BCH price was $ 1,000 in the past, an oracle entry with the block number cannot be used and the price above. Instead, you must pass a message with a block number and a price after the main block. This contract serves as a simple example of contracts based on OP_Checkdatasig.

After the contract was created, the creator of Spend, Tendo Pein, tweeted: "BCH supports holding better than BTC." "Whatever BTC can do, BCH can do better," Cardona replied. In the Reddit r / BTC forum, BCH supporters welcomed the innovation derived from the Cashscript language. Cashscript can allow many types of autonomous and decision-based transactions such as oracles, zero confiscations, good digital purchases through the PGP signature, Pay to ID, cold wallet timeout, multiple signature order, currencies stable, agreements, multi-insurance insurance, party calculation, guarantee deposits blindly and spending restrictions. "[It will be] exciting to see what people can do with these new features," said a BCH follower after reading about the innovations Cashscript could present in the future.

Oracles and decision-based transactions without the need for a custodian's decision

One of the most important conversations derived from the r / BTC publication about Cashscript was the use of oracles. Many cryptocurrency enthusiasts and blockchain developers believe that the BCH blockchain could provide verifiable facts from multiple sources, so people can use an oracle without the confidence to make better decisions. Since ancient times, humans have used oracles to make difficult decisions, run bets and bets, and provide validated reports. The OP_Checkdatasig operation code has brought the idea of blockchain oracle concepts using the BCH chain to the forefront. The operation code can verify the validation of certain signatures and return two different results autonomously. This means that BCH-driven oracles can provide a definitive result for things like sporting events, election results, and prediction markets. But it would do so in a way that eliminates the need for a third party or custodian's decision.

Developers have already demonstrated that these types of decision-based transactions can work without changing the current BCH rule set. People have built chain bets, oracles, digital currency inheritance schemes, and even a chain chess game. It's still too early, but Cashscript is maturing rapidly and BCH developers can use the language right now to execute these types of decision-based transactions in their workflow. As Cardona pointed out earlier this week, non-custodial financial services will decimate the current way we handle money. Innovations such as OP_Checkdatasig, Cashscript, Spend and Schnorr help achieve this goal.

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