What’s up everybody WAJAHAT is here with another exciting blog on Pycoin. Pycoin functions as a distributed application meant to write, test & deploy smart contracts which are safe and can be verified mathematically, smart contracts that are written, tested and deployed are in programming language called Python and they perform precisely as planned. Different from Ethereum smart-contracts which have past record of recurring hacks & embezzled funds, smart contracts of Pycoin make sure that there aren’t any Runtime errors moreover neither deliberate nor accidental bugs could be used for stealing funds and corrupting smart-contracts of Pycoin. Pycoin employs an unsophisticated, newly typed, combinatory, practical language that is exempt from any loops as well as recursions & formulated in such a way that it can be used for blockchain-based apps and cryptocurrencies in the form of target language & Python which is immensely famous & adaptable top-level programming language to be used as source language by Pycoin. Blockstream is a dominant distributed company for application establishment & it has recently launched Simplicity. As a consequence of its incomplete Turing, Simplicity is acquiescent to static evaluation which can be utilized for deriving upper bounds on required computational resources before carrying out execution. With incomplete Turing, absolutely any finitary operation can be expressed by Simplicity which Pycoin believes is sufficient for building valuable smart contracts for decentralized apps that are either blockchain based or blockchain-free.
It is the aim of Pycoin to establish a distributed platform which supports creation of highly trustworthy and comprehensive stuff and generates smart contracts deploys them as well as additional decentralized apps on binary super-fast network, among them one is blockchain-free DAG-based network which happens to be the branched chain of XRB and another is called DexOS which is real-time non-forked blockchain based development that is under the process of active establishment. There are several real world applications of Pycoin. Essentially it will serve a replacement for less safe smart contracts of Ethereum that are typed in complete Turing language. As Pycoin is incomplete Turing so it is a lot safer than those Ethereum contracts. If productivity is considered then as Pycoin is supported by infusion of Python language also called PyLegal which is why it will attract around 4 million developers of Python throughout the globe. It will be responsible for cutting short learning curve for developing secure smart-contracts also called SSCs in PyLegal. Pycoin offers a system with currency that can preserve privacy and acts as a trusted universal payment system. Privacy level that is Quantum secure will be incorporated into Pycoin thereby making it nearly invulnerable to censorship, chain evaluation and crypt-evaluation for searching out the details regarding person who is making payment, the recipient & payment information by highly potent supercomputers as well as quantum-computers in the probable future.
By utilizing the platform of Pycoin it is possible to develop unnamed DEXs which will be substantially ascendable by their structural design with inherent atomic swaps that could either be blockchain centered or blockchain-free cryptoasstes & could not be operated by central authorities. Holders of IoT Node as well as maker of IoT device are empowered by Pycoin for implementation, safe monetization & sharing of personal/public resources of IoT via establishing coalesced IoT system without disclosing any personal plus recognizable classified data. This will lead to prompt & smooth machine-to-machine micropayments. Real-time gaming is also possible on the platform of Pycoin and it can be made available to millions of users without related server fee & expensive upkeep of central cloud structure. Pycoins will allow common people to create betting plus lottery pools. Pycoin will also offer distributed clusters of DNS. With Pycoin users can get token based fiscal assets & derivative contacts. Pycoin presents automatized hedge funds. Crypto darkpools of Pycoin offer entitled P2P trading facility. With assistance of Pycoin insurance companies will become capable of offering temporary liability insurance. In supply-chain Pycoin would be of considerable use. Real-time anonymous procedure for video calling is also enabled by Pycoin.
Website:
http://www.pycoin.io/
Whitepaper:
http://www.pycoin.io/static/whitepaper.pdf
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hi @wijay295 , It's great post bitcoin! I enjoyed your content. Keep up the good work!
It's always nice to see good content here on Steemit! Cheers :)
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Thanks @shohagrana
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