Akash Anand

The debate between the best use cases of Bitcoin [BTC] has raged on for a long time, with many suggesting different ways and technologies to obtain the asset’s full potential. In a recent Reddit AMA conducted by Dmitry Petukhov, the Chief Software Architect of Simplexum, opined on a question about advantages of liquid assets against tokens on systems like Ethereum or ERC20, other than building on BTC’s stable network.

To this, Petukhov replied,

“Confidential transactions (values and assets are blinded to those who do not possess the blinding key).Assets are native to the protocol, no need to write custom contracts in the turing-complete script and spend a lot of resources to audit these contracts.”

The AMA, which was also shared on Twitter, was endorsed by Adam Back, the Co-founder and CEO of Blockstream.

Petukhov further commented,

“Not only bitcoin’s stable network as a peg, but bitcoin’s stable tech in general. Simple non-turing-complete scripts which is possible to exhaustively analyze. Will be even simpler to build and analyze with miniscript.”

The Chief Architect of Simplexum also spoke about atomic swaps of assets on the Reddit thread. He went on to say that atomic swaps within the network do not take up a large set of instructions, but move in a smooth and functional way. He continued,

“Since assets are native, atomic swaps of assets within the network are simple cooperatively signed transactions, which can also swap multiple assets in one transaction (similar to EIP875, I suppose, but do not require any contract code – can be done with simple single-sig addresses).”

Bitcoin’s usage and entry into the mainstream realm was reflected by Bitcoin Liquid Indices being listed on Nasdaq. The stock market company, in an official release, stated,

“It provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets.”

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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

(Excerpt) Read more Here | 2019-03-13 00:31:01
Image credit: source


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