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This Week In BCH: Bitcoin Cash multi-party escrow, Vitalik Buterin suggests BCH as data layer for ETH -- Bitcoin News

Bitcoin Cash Update: Multi-Party Escrow, Vitalik Suggests BCH as Data Layer for ETH

Another week has passed for the Bitcoin Cash (BCH) community and as usual, there’s been a bunch of announcements and developments. BCH supporters this week saw the release of a multi-party onchain escrow system, Ethereum cofounder Vitalik Buterin discussed using the BCH chain as a data layer, and more BCH-accepting merchants were onboarded.

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The cryptocurrency ecosystem is filled with new applications and developments nearly every day and many announcements stem from the BCH community. Last week we mentioned the first exchange-traded product (ETP) tracking the performance of bitcoin cash, Jonathan Toomim’s scaling benchmark, and how the rising transaction volume on the BCH blockchain makes the network one of the most valuable chains according to the founder of Ryan Research, Peter Ryan. Since then there’s been a slew of new announcements and developments within the BCH environment.

Multi-Party Onchain Escrow Transactions Using OP_Checkdatasig

On July 12, the cofounder of Cointext, Vin Armani, announced the release of “Jeton Lib,” a Bitcore library extension that provides users with the ability to create multi-party onchain escrow transactions using OP_Checkdatasig. “I want to see more people experimenting with BCH power,” Armani stated during the release announcement. According to the Jeton Lib documentation on Github, it explains that the BCH protocol has a unique script functionality that’s not available on other Bitcoin forks like the opcode OP_Checkdatasig.

Jeton Lib was designed by Vin Armani, the CEO of Cointext.

“This functionality allows Bitcoin Cash users to participate in onchain, noncustodial escrow transactions and more,” Jeton Lib’s readme summary details. Developer Chris Tro...

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