With The First On-chain Atomic Bet, Bitcoin Cash Innovation Continues
A protocol that enables basic coin flip wagers utilizing the Bitcoin Cash (BCH) blockchain called Chainbet, designed by Jonald Fyookball, just recently reported by news.bitcoin.com. Using the BCH network’s re-enabled OP_Codes and Fyookball’s Chainbet concept, the OPenbazaar developer Chris Pacia performed the first atomic bet, since then.
Utilizing Bitcoin Cash OP_Codes, the first trustless atomic wager
In order to demonstrate a trustless wager, using the BCH network’s OP_Codes, this weekend the open bazaar developer Chris Pacia has performed the first atomic bet. After seeing Fyookball’s new protocol concept, Pacia tried the idea using bitcoin cash as well as stressing that this approach of trustless betting is not likely utilizing the Bitcoin core (BTC) network. As a result of this past May, the re-enabled OP_Codes were added to the BCH protocol.
As demonstrated in a post, Pacia detailed that, “the way the scheme works from a high level is that Alice and Bob are going to generate secret random numbers and commit the hashes of those numbers to the bet’s output script,” as reported by news.bitcoin.com. He also stressed that “to determine the winner they will both reveal their random numbers and the script will add them together. If the sum is even, Alice wis-otherwise, Bob wins,” according to news.bitcoin.com.
Using the new OP_SPLIT and OP_BIN2NUM codes, 56-bit random numbers were converted to 3-bit integers.
Pacia noted that the Bitcoin arithmetic operations just permit signed 3-bit integers and also stressed the challenge of this operation is doing it securely. In other words, this suggests that if Alice and Bob commit to 32-bit random numbers, the process would not work. In using the new OP_SPLIT and OP_BIN2NUM codes, Pacia’s demo commits to the hash of 256-bit random numbers. The OP_MOD directive is accustom to determine odd and even.
Pacia accomplished this procedure and shared this demonstration, in which many bitcoin cash supporters were thrilled to view, as reported by news.bitcoin.com. Betting sites such as Satoshi Dice could further advance using this type of trustless wager method according to BCH supporters and reported by news.bitcoin.com. Pacia was thanked for bringing his skills and adding life to his concept by the creator of Chainbet, Jonald Fyookball.
According to news.bitcoin.com, Fyookball noted that in order to create a usable implementation soon, he was looking forward to working with pacia. He further details that this scheme can’t be done on BTC, which is pretty amusing, as reported by news.bitcoin.com