BTC smart contracts the most effective at Bitcoin Expo 2019 says Peter Todd
According to Bitcoin Core engineer Peter Todd, he suggests that Bitcoin is the most successful smart contract.
The MIT Bitcoin club had kept the 6th annual Expo on 9th and 10th of March, 2019 at MIT
where Peter Todd, a prominent Bitcoin Core Engineer spoke about Bitcoin being an effective smart contract platform.
Peter Todd spoke about the other EOS and other smart contracting platforms which are permissionless in nature. Mr.Todd states that most of these smart contracting platforms use only mediocre technology
“Bitcoin, in production, is the most successful smart contract platform because it is very simple. Because it relies on very simple things and very clearly which actually works.
As the smart contract is simple, the production in Bitcoin is most successful. It relies on very simple things and quite clearly actually works.
Smart contracts are computer-based programs stored in the blockchain. As agreed-conditions, they can be implemented to automate the continuous transfer of crypto tokens. Unlike Ethereum, which is a much more complicated platform which comes with security and privacy risk, Bitcoin provides more of an ideal mic of smart contract functionality which makes them more efficient.
Due to the evolution of the Bitcoin protocol, smart contracts has gained a lot of support. Smart contract functionality is not as programmable and extensible on Bitcoin as it is on Ethereum. According to Bitcoin scripting, you can use the features to add improvement proposals, certainly smart contract functionality.
There are several Bitcoin-based blockchain projects present in the market. Most are simply building cryptocurrencies forked from Bitcoin. They are not taking advantage of Bitcoin’s potential to create the foundation for a completely decentralized platform that supports a multitude of DApps and programmable functionality.