No. It's orthogonal. Wormhole, SLP, ColoredCoins are all tokenization solutions - the purpose of them is to attach to a coin some metadata that carries some additional meaning, for example that this coin represents a share in a company or a real estate ownership. They are some extra protocols/conventions unknown to Bitcoin itself. (I'm talking specifically about SLP and CC, not sure about Wormhole, I haven't dug into it much yet). Spedn is about defining complex spending conditions. It utilizes Bitcoin scripting capabilities that are already there but makes the script more approachable.
ELI5: Tokenization is like painting coins in various colors (hence Colored Coin name) to represent additional meaning. Spedn is like putting those coins (either colored or not) in more fancy lockboxes.
Please change the name. It's just awful and reflects the unimaginative personality of its creators. Also, it instantly killed any interest in me. My girlfriend's comment: whoever came up with this needs to be shot. It's a purrrfect river dam.
luke-jrLuke Dashjr - Bitcoin Core Developer2 weeks ago
I don't see why it wouldn't be. In fact, if the author wished, he could make it even more advanced by integrating Segwit support for more complex smart contracts.
However, in practice, if he compiles to some BCH-specific opcodes, you may find you need to tweak your output to work on Bitcoin.
> I don't see why it wouldn't be.
Contract languages like these tend to need predictable and timely transactions with low and predictable fees, they also tend to be bigger than normal transactions.
As such they'd get classified as "spam" by you and other thought leaders in the BTC space and they'd suffer everytime fees rose. If the product ever became popular; it would cause a fee rise that would make it less viable than other competitors in the space because of it's reliance on BTC.
While I'm certain it's technically possible to build something marginally similar on BTC (and some things do exist like counterparty for example) the economics of BTC make it moderately bad idea.
FWIW I initially skipped this article because of what I took "smart contracts" to mean, but when I read it I realized this was something I'd already been wanting - a compiler for a "C-of-Script". (name idea: SeaOfScript)
Awesome job Just Doing It! Your design description inspires confidence too.
Consider promoting it as a compiler for working with Script in addition to being "a smart contracts language", because some people might be stupid like me and interpret it as Spedn only being for things like DAO or colored coins.
Shawn0717Redditor for less than 60 days2 weeks ago
Other than the name, I think it's amazing work. What you had done looks really awesome. Please use another name though, as you can see other comments the same. Something like bchcontracts.com is available for $9 at namecheap and you can pay for the domain name with Bitcoin Cash.