Counterparty Tests Ethereum Smart Contracts on Bitcoin Blockchain

Counterparty core developers have successfully tested smart contracts taken from the Ethereum code-base on their systems, thus making an Ethereum Virtual Machine port for the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.

The Counterparty protect was created in 2014 to bring Ethereum’s smart contract capabilities to the Bitcoin blockchain, allowing holders of the most widely used cryptocurrency to securely write their own smart contracts. The idea is that Bitcoin will be better for contracts because of its wider adoption, while at the same time this will help save it from being disrupted or overtaken by Ethereum.

Counterparty Core developer, Ruben de Vries, writes that what remains is a test coverage for the deeper level underlying code to make sure that the code doesn’t contain a bug, which is needed even if contracts are now functioning 99.999% of the time. This suggest that an official working solution is very near and could come as soon as this month.

The race to add Ethereum-style capabilities to the Bitcoin blockchain has been heating up recently with different players in the community placing their best on Counterparty, RSK Labs' or Lisk.

Counterparty’s currency, XCP, rose by about 35% over the past week and is now worth around $2.17 making the overall market cap almost $6 million. XCP will need to grow by a factor of 200 in order to reach Ethereum's market cap of $1.17 billion.

Back in March 2015 the Counterparty developers unveiled a new cryptosecurity venture, Symbiont, following the termination of overstock.