Bitcoin.com is pleased to announce plans to offer one of the world's first oracles for smart contracts on the Bitcoin Cash blockchain (BCH). The autonomous function will enable specialized forecasting markets and decision-based transactions for sports results, political results and market exchange rates.
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Oracle section of Bitcoin.com: verifiable multi-sourcing facts
Since the Bitcoin Cash network is updated in May and November, the protocol and its scripting language are now much simpler for the coding of smart contracts, decision-based transactions and predictive oracles. With the help of opcodes like OP_Checkdatasig (DSV) and 32 MB blocks of Bitcoin Cash, BCH is one of the simplest and most secure platforms to build your smart contract. With the construction of Bitcoin.com Oracle, we intend to exploit the advantages of the BCH network and all the new features added during the latest updates in order to provide verifiable and multi-source facts.
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The bases of an oracle with sufficient valid data can be ideal for the execution of decisions and the activation of smart contracts. In ancient times of civilization, humans often visited oracles, validated reports, created prediction markets, and attempted to predict the likelihood of results to make better decisions. With new opcodes such as DSV, participants in the Bitcoin Cash network can validate data when certain conditions are met within the smart contract. The BCH-based oracles can theoretically activate any type of intelligent contract from any type of data existing outside the Bitcoin Cash blockchain.
<img class = "aligncenter wp-image-262671 size-full” title=”The objective of Bitcoin.com aims to strengthen the smart-contracts with BCH” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor2.jpg” alt=”The objective of Bitcoin.com aims to strengthen the smart-contracts based on BCH "width =" 3200 "height =" 1400 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018 /12/Monitor2.jpg 3200w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor2-300×131.jpg 300w, https://news.bitcoin.com/wp-content/uploads / 2018/12 / Monitor2- 768×336.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor2-1024×448.jpg 1024w, https://news.bitcoin.com/wp -content / uploads / 2018/12 / Monitor2-696×305.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor2-1392×609.jpg 1392w, https: //news.bitcoin .com / wp-content / upload / 2018/12 / Monitor2-1068×467.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor2-960×420.jpg 960w "sizes =" (maximum width: 3200 px) 100vw, 3200px”/>
Empowering global participation
There are so many cases of use for oracles and autonomous contracts powered by BCH that can be performed using verifiable data. With Oracle from Bitcoin.com, we hope to provide tools to track personal goals, track sports scores, track exchange rate movements, record social media platforms and monitor news. Alongside this, it is even possible to track down the Bitcoin Cash code repository, retrieve requests and more with our oracles that extract data from the Github API and other sources. Historically, oracles have been centralized, but using the BCH register security we can rely on autonomous oracles to determine certain results. Going beyond the limits of centralized entities, BCH-based oracles provide the means for global participation because BCH peer-to-peer transactions are cheap and reliable.
<img class = "aligncenter wp-image-262668 size-full” title=”The objective of Bitcoin.com aims to strengthen the smart-contracts with BCH” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor.jpg” alt=”The goal of Bitcoin.com aims to strengthen the smart contracts powered by BCH "width =" 3200 "height =" 1400 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/ 12 / Monitor.jpg 3200w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor-300×131.jpg 300w, https://news.bitcoin.com/wp-content/uploads/ 2018/12 / Monitor- 768×336.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor-1024×448.jpg 1024w, https://news.bitcoin.com/wp- content / uploads / 2018/12 / Monitor-696×305.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor-1392×609.jpg 1392w, https: //news.bitcoin. com / wp-content / upload / 2018/12 / Monitor-1068×467.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/2018/12/Monitor-960×420.jpg 960w "sizes =" ( maximum width: 3200 px) 100vw, 3200 px”/>At the moment our Bitcoin.com Oracle is still under development. But if you want to access the beta when the code is available, sign up for our Oracle newsletter. Also, if you would like to contribute or provide feedback, you can reach us through the Oracle landing page and we will get back to you as soon as possible. "We would like a little help in identifying exactly which platform would be most usable for users," explained Bitcoin.com CEO Roger Ver on the Reddit r / btc forum on Monday.
What do you think of the Oracle idea of Bitcoin.com? Let us know what you think of this project in the comments section below.
Images via Shutterstock and Bitcoin.com Oracle.
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