Off-Chain Contracts – Bitcoin Magazine

Taproot is currently the most likely next upgrade for Bitcoin. It is one of a few upgrades that are currently being worked on that users and developers would hope to eventually see activated on the network.  All of these upgrades share a general theme that will likely be the theme of many future upgrades as well. This theme is making contracts unicast, or more simply put, moving contract logic off-chain, and leaving it up to the user, instead of the network, to validate and enforce their contract. Moving to a…

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New withdrawal contracts will enable Rocket Pool Eth2 staking service to launch

Withdrawal contracts for Ether staked on Ethereum 2.0 could become available as early as Q1 2021 allowing decentralized Eth2 staking service Rocket Pool to launch. While Phase 0 of Eth2’s roll-out was launched with its Beacon Chain on Dec. 1, the 900,000 Ether deposited by stakers will not be available for withdrawal until Phase 1.5 — which is expected to arrive around early 2022. Last week, Ethereum developer Danny Ryan introduced a new proposal that would allow for “Simple (but expressive) withdrawal contracts to be written today”. Should the proposal…

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3 factors to consider before trading crypto perpetual futures contracts

As tempting as it can be to buy altcoins using perpetual futures, there are a few hidden traps that one should monitor closely.  Over the past few years, numerous exchanges began to offer altcoin futures quoted in Tether (USDT) and stablecoin pairs, which eventually became the standard. This change is more convenient for most traders but still presents some serious issues for those willing to keep long positions open for more than a couple of weeks. Before opening any trade at an exchange offering perpetual futures, traders should be aware…

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A new DeFi project could let smart contracts buy physical goods

Boson Protocol, a project that seeks to connect the real world of physical commerce to smart contracts, announced a successful $350,000 investment round on Monday. The project is creating the “building blocks for next-gen dCommerce apps” by providing a way to redeem blockchain tokens for their real-world physical counterpart. The project received an oversubscribed investment round led by Outlier Ventures, joined by Ocean Protocol’s Trent McConaghy and others. The funding will be used primarily for operational costs and building a working pilot, the company said. Justin Banon, the project’s founder,…

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Aztec launches private smart contracts as Ethereum rollup

Aztec, a privacy protocol developing on Ethereum, announced on Monday the launch of its second iteration, promising private transactions and smart contracts while being cheaper than standard transfers. The layer two solution adopted by Aztec relies on zkRollups, similar to Loopring or ZkSync. All these protocols rely on zero knowledge proofs to help Ethereum scale, but come with different benefits and focused use cases. Loopring focuses on the decentralized exchange experience, while ZkSync aims to be a generalized layer two protocol that could boost Ethereum’s transaction throughput. Aztec, in comparison,…

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Yield farmers make 500% returns but most can’t read smart contracts

The majority of yield farmers do not understand how to read the potentially risky smart contracts that underpin the decentralized finance (DeFi) ecosystem — but that hasn’t stopped them making huge profits. Crypto market data aggregator CoinGecko has published its findings from a survey of 1,347 of its users about yield farming, finding that 93% of respondents claim to have reaped a financial return of at least 500%. However around half of users are currently farming with less than $1,000, making high gas fees a significant concern in the community,…

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Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining

The rapid growth of decentralized finance (defi) protocols is contributing to the increasing proportion of ETH supply that is now locked in smart contracts. More than 15% of the total ETH supply is now locked, compared to 11.5% from a year ago. This growth led to the inevitable decline of BTC dominance. According to a report, over 5% of ETH is locked up in the WETH (wrapped ether) smart contracts, enabling it to interact with other tokens more easily. Most of this WETH has then been locked up in defi…

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Explaining DLCs, Smart Contracts On Bitcoin – Bitcoin Magazine

Bitcoin has been critiqued by those in the altcoin community for the past few years over its inability to host smart contracts. But recent work from developers at Suredbits, Crypto Garage and Atomic Loans — along with efforts from some independent contributors — on Discreet Log Contracts (DLCs) is bringing smart contracting to Bitcoin and will quell some of these critics. DLCs are uniquely positioned to bring smart contracting to Bitcoin using oracle contracts that are much more private and scalable than previously thought possible. What Are DLCs? DLCs are…

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Anonymous Developer Deploys Curve Contracts, Forcing Early Launch

Decentralized finance (DeFi) project Curve has been forced to launch its DAO and governance token CRV prematurely after an anonymous developer deployed the contracts without the knowledge of the official team. The developer tweeted from a brand new Twitter account that he thought the contracts were ready and had jumped the gun “Yo, @CurveFinance ! Saw your DAO is ready to rock and I gots to MAXIMIZE MY ALPHA ! So I went ahead and deployed it for you. Get at me in DM to verify and let’s get this party…

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Bitcoin Script and Onchain Contracts: Two High-Level Programming Languages for Bitcoin Cash

Last May, the software developer and creator of revoke.cash, Rosco Kalis, released Cashscript version 0.4 that included a number of optimizations. Cashscript’s new website highlights the high-level language that “offers a strong abstraction layer over Bitcoin Cash’ native virtual machine, Bitcoin Script.” Additionally, the developer Tendo Pein recently announced the “high-level smart contracts programming language for Bitcoin Cash” called Spedn now has a new website. Cashscript Version 0.4.3 and Cashscript.org Rosco Kalis is a software developer who is involved with a number of different cryptocurrency projects. For instance, Kalis created…

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