Opening words
The title seems fairly generic, I agree. But what I am hinting towards when I say 'Smarter' is the possibility for SmartCash to open it's doors to allow SmartContracts to be used on our network. I'll quickly run you through the details.
The 1.2 update
In the latest 1.2 release SmartCash has increased the maximum size of the OP_RETURN field to 256 bytes. This enables a rebust OP_RETURN feature which is a relatively inexpensive way to embed data into the SmartCash chain. This space can be used to allow the flow of metadata in transactions.
256 bytes
256 bytes seems to be a good maximum to prevent bloating the network. Having this number be too high, like let's say 1024bytes could 'spam' the network.
To put it into perspective: in 2014 bitcoin OP_RETURN had been reduced from 80 to 40, only to to later be brought back to 80 in 2015. In recent months, Bitcoin Cash has changed it's default carrier-size from 80 to 220bytes.
I will post the github-sources in the bottom of the post.
What does this mean?
To put it in more simple terms - this means that a support-layer is added which allows for example Smart Contracts to be supported on the SmartCash-network, as well as invoices for merchants and other BIP's (Bitcoin Improvement Proposal).
Pair this with the fact that with the increased block-size and adaptive blocks-integration that allows for 323 transaction per second - The SmartCash network can be a tempting platform for 3rd parties to run on.
In closing
Whether this will be a huge thing or not remains to be seen. It should be well remembered that SmartCash's main purpose is to be used as a payment-tool. But having the option there for third parties, like a Crypto-Kitties SmartCash edition or other developments could be a possibility after this release.
Sources:
https://github.com/bitcoin/bitcoin/pull/2738 - Initial OP_RETURN pull request
https://github.com/bitcoin/bitcoin/pull/3737 - OP_RETURN reduce from 80 to 40
https://github.com/bitcoin/bitcoin/pull/5286 - OP_RETURN increase from 40 to 80
I like your picture.. nice cat !
Thanks! :)
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