Smart contracts for Bitcoin Cash
Efficient and Reliable Verification
Smart contracts on Bitcoin Cash are stateless and UTXO-based. This model allows transactions to be verified independently and efficiently. Because there is no state that can impact the execution of these smart contracts, the results are deterministic and predictable.
Private and Isolated Contracts
Because of Bitcoin Cash' UTXO-based model, each contract is fully independent and isolated from each other. This limits systemic risk and makes contract upgrades much simpler. Furthermore, Bitcoin Cash contracts use P2SH, preserving the privacy of participants.
Bitcoin Cash transactions run on a virtual machine called Bitcoin Script. Writing bytecode for this virtual machine is difficult and error-prone. CashScript offers a strong abstraction for writing Bitcoin Cash smart contracts, improving developer experience and reliability of contracts.
DeFi on Bitcoin Cash
Most DeFi applications are currently running on top of Ethereum. Bitcoin Cash contracts use a different and functionally more limited paradigm. But with techniques such as covenants, state simulation and trust-minimised price oracles, DeFi is very much possible on Bitcoin Cash.