BIP270 and Wallet Connect
The 4th milestone of ChainBow Wallet this week brings support for BIP270 and Wallet Connect. At the same time, most of the code of CUP Token has been completed, and it has entered the testing phase.
BIP270 is a specification that implements peer-to-peer transactions. Imagine the following scenario: A shop sells a pencil of 1000 satoshi and pays 10% tax. The store’s bitcoin cash register will construct a transaction containing two outputs and then prompt a QR code. The customer can use the ChainBow Wallet to scan the code to pay 1,000 Satoshi for goods and 100 Satoshi for taxes at the same time in one transaction. And this transaction can be sent to the store’s cash register peer-to-peer. The means of communication can be Wifi, Bluetooth, or NFC in the future.
BIP270 was proposed in 2013. Today, eight years later, it is not popular. The main reason is that Bitcoin was difficult to use as a payment method before, and there was no perfect Bitcoin cash register.
Based on supporting the BIP270 standard and using the WalletConnect v2.0 protocol, we define and improve the communication interface between the wallet and the DApp. For Ethereum users, there is a consistent user experience.
The first version of the demo is at https://dapp.chainbow.io. You can click connect button to create a linked QR code from the DApp, scan the wallet, and connect to each other. Complete a Satoshi payment.
Next week, we will improve the interface and support the needs of DApps such as smart contracts, blockchain games, Dex/Swap, etc. All the documents and tutorials required by the DApp will be made public. We are looking forward to the emergence of a large number of Bitcoin DApps.
In addition, this week, we finally waited for the release of sCrypt 1.0. The new compiler reduces the size of the CUP Token contract from 3892 bytes to 2952 bytes. A token transaction is about 6K bytes and costs less than 1 cent.
Most of the code of CUP Token has been completed, and a small-scale test is planned to start next week. After that, we will provide cross-chain assets from Ethereum to BitcoinSV, and there is still a lot of work.
The hot spot in the community this week is 0-spendable output. Someone created multiple Bitcoin transactions with 0 Satoshi inputs and 0 Satoshi outputs, packaged by two mining pools. We firmly oppose this violation of Bitcoin consensus. If you don’t want to use Bitcoin on the Bitcoin network, please leave.
We believe that Bitcoin is the world’s currency, and we work hard for this ideal. Any behavior that prevents the realization of this ideal will be severely beaten.
Download and Install ChainBow Wallet from https://chainbow.io/
Note: It is currently an alpha version. Please only recharge a small amount of Satoshi experience. And be sure to back up the mnemonic phrase and restore the account at any time.
