SegWit and bitcoin core developer Pieter Wuille has officially introduced the new bitcoin programming language named Miniscript which will simplify the smart contract development for Bitcoin. One of the most respected developers is the one responsible for the implementation of the Segregated Witness as we found out recently in the latest cryptocurrency news.
Miniscript is built on top of the current Script language for the Bitcoin smart contracts which aims to optimize it. The script allows for the specifications of multiple conditions which must be met in order for bitcoin to get spent. This could include a time-limit before the coins are locked in or the requirement of a few signatures to verify a transaction. However, the script becomes unwieldy when is required to perform multiple kinds of static analysis, a compilation of policies and generic signing. According to Wuille’s reports, Miniscript has functions which represent the scripts and makes these sorts of operations possible. Wuille tweeted how the policies can be combined:
‘’Imagine a company wants to protect its cold storage funds using a 2-of-3 multisig policy with 3 executives. One of the executives however has a nice 2FA/multisig/timelock based setup on his own. Why can’t that entire setup be one of the multisig “participants”?’’
With Miniscript, the two-factor authentication could easily work with the cold storage requirements. The script could compute the composite sig which is now required and still will be able to sign as a participant in the multisig. The segwit developer stated that he would continue working into incorporating parts of Miniscript into the Bitcoin core if there it is needed for it among other developers. However, as explained in the coming altcoin news, the project has already undergone extensive testing against the actual Bitcoin consensus rules. Wuille stated that in an ideal environment, this could include multiple pieces of wallet technology and his co-developers have been working for it for a while now. They have been working on the Rust library and since Wuille is a high profile figure in the bitcoin community this could bring a lot of positive things for the crypto industry. He even participated this year in the Lightning Torch relay.
BitMEX CEO Arthur Hayes: ‘Traditional Traders Are Under Pressure’
“Some of the practices in our market are going to be mimicked in traditional trading [...] All these things about being somewhere and trading something and physically reconciling records is all going to go out the window. Once you get away from that and understand that everything will be digital in the next 10 years, you realize that Bitcoin isn’t such a strange idea.”It remains to be seen how labor organizations which were crucial in the adoption of weekends, the 40-hour workweek and mandatory break - will respond to the claims of the BitMEX CEO Arthur Hayes and especially if his prediction passes. On September 18 and before this, the CEO of BitMEX was in the news for predicting that Bitcoin (BTC) could soon shoot to $20,000 as a result of emergency measures from the United States Federal Reserve. The comments by Hayes came right after the Federal Reserve swooped in and decided to decrease interest rates on some loans which reached more than 10% or four times its target. More than $53 billion was pumped in the economy through the quantitative easing (QE) measures.
“QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000,” the BitMEX CEO Arthur Hayes tweeted back then.The latest Bitcoin and altcoin news show a new correction on the market. The total market cap is now at $267 billion and Bitcoin is again below $10,100.
McAfee Believes Bakkt Launch Could Jumpstart Widespread Adoption
“BAKKT goes live tomorrow. It is an institutionalized exchange so I won’t be using it, but institutions will feel a level of trust that they had not had. It could jump-start Ctypto adoption. But remember – it is the opposite of freedom’s movement."https://twitter.com/officialmcafee/status/1174999327917297666 McAfee also said that the date of the platform's launch mixed up - and the Bakkt actually launches on Monday and not tomorrow. The coming altcoin news sum up a lot of stances from the community. One of them is the viewpoint of Thomas Lee, a prominent cryptocurrency analyst and a notable Bitcoin bull. While John McAfee believes there could be a bull run soon, Lee said that the Bakkt launch will improve the institution trust of the crypto markets.
“I am very positive on @Bakkt and its ability to improve trust with institutions to crypto,” Lee explained.https://twitter.com/fundstrat/status/1174894754250838016 Assuming that everything goes well and the Bakkt launch proceeds with great success and utilization, it could lead to an influx of fresh capital in the markets. This could also boost the performance of crypto for the second half of 2019. The best cryptocurrency news sites today report about the falling price of Bitcoin over the past several days. The sideways trading, however, may soon come to an end as McAfee believes - mostly because of the upcoming Bakkt launch.
CME Group Will Launch Bitcoin Options Early In 2020
“Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk. These new products are designed to help institutions and professional traders to manage spot market bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment.”CME Group also detailed that since their 2017 launch, there have been more than 20 "successful" futures expiration settlements and more than 3,300 individual accounts trading the contracts. Close to 7,000 CME Bitcoin futures contracts are traded on average each day, the company stated. Meanwhile, the coming altcoin news in March this year showed that CBOE abruptly changed the tack and halted its futures product. Now that CME Group will launch Bitcoin options and CME won't (for now), this gives a massive advantage to CME as the sole provider of Bitcoin futures in the US. However, it seems like CME will have a new rival from Monday. The rival is the Intercontinental Exchange (ICE) and is subsidiary Bakkt - both of which are preparing to offer a new BTC futures product. Unlike CME and its cash contracts, ICE will be offering a physically settled product which means that its customers will receive actual Bitcoin (BTC) instead of the cash equivalent.
Bitcoin Avoids Posting Seven Consecutive Red Daily Candles
Join us on Facebook
- The German Government Establishes A Sound Blockchain Strategy
- BitMEX CEO Arthur Hayes: ‘Traditional Traders Are Under Pressure’
- McAfee Believes Bakkt Launch Could Jumpstart Widespread Adoption
- Upbit Exchange Delists Privacy Coins Including Monero, Dash and Others
- CME Group Will Launch Bitcoin Options Early In 2020
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News4 days ago
Tether’s Burning Of 400M USDT Could Crash The Bitcoin Price
Bitcoin News5 days ago
Bitcoin Price Analysts: A Strong Bull Run Is Imminent
Altcoin News2 days ago
Wells Fargo Tokenizes Cash But Avoids Calling It A Cryptocurrency
Altcoin News3 days ago
Ripple And Coinbase Relations Rumor Will Fuel XRP By 20%
Bitcoin News5 days ago
Low Bitcoin Volatility Could Power A Strong Price Movement
Bitcoin News4 days ago
Current Bitcoin Is Stronger Than Ever, But No One Cares: Google Trends
Bitcoin News4 days ago
Deloitte Starts Testing Bitcoin Payments For Its Staff
Bitcoin News2 days ago
CME BTC Futures Volumes Hits 4-Month Low: Analysis