Pycoin is a privacy preserving zero-knowledge protocol-based decentralized platform for writing, testing and deploying mathematically verifiable secure smart contracts in Python language that behave exactly as intended.Unlike Ethereum smart contracts with a history of repeated hacks and stolen funds, hundreds and millions of dollars, Pycoin ensures that no run time errors or intentional/unintentional bugs can be used as exploits to steal funds and corrupt Pycoin smart contracts. Pycoin can be also used as a platform for launching a number of next generation decentralized applications such as scalable decentralized exchanges(DEXs), automated hedge funds and darkpools.
Pycoin uses Simplicity, a new typed, combinator-based, Turing Incomplete functional language without loops and recursion, designed to be used for crypto-currencies and blockchain applications as its target language and Python, a highly popular and versatile high-level programming language as its source. Simplicity was released recently by Blockstream, an influential decentralized application development company. Owing to its Turing incompleteness, Simplicity is amenable to static analysis that can be used to derive upper bounds on the computational resources needed, prior to execution. While Turing incomplete, Simplicity can express any finitary function, which we trust is enough to build useful “smart contracts” for blockchain and blockchain-free decentralized applications.
Use Cases of Pycoin
Pycoin has got a number of real world uses. Primarily it can easily replace less-secure Ethereum smart contracts written in Turing Complete Solidity language. Being Turing Incomplete Pycoin is many times more secure than Ethereum Contracts. In terms productivity, since Pycoin is based on an interpolation of Python language known as PyLegal, Pycoin will be more appealing to more than 4 million Python developers worldwide. It would cut the learning curve short for creating secure smart contracts(SSCs) in PyLegal.
Privacy-preserving Currency and Confidential Global Payment System.
Pycoin will have quantum-safe privacy layer zkSTARK implemented in it making it virtually immune to censorship, cryptanalysis and chain analysis for ferreting out payer and payee information as well as payment data by most powerful supercomputers and even quantum computers/quantum circuits in the foreseaeble future.
Unmanned DEXs.
Unmanned Decentralized Cryptoasset Exchanges can be built using Pycoin platform. These unmanned DEXs will be infinitely scalable by design with built-in atomic swaps of both blockchain-based and blockchainfree cryptocurrencies/cryptoassets and can’t be controlled or blackmailed by any centralized authorities.
Large-scale Federated IoT Networks.
Pycoin empowers IoT Node owners and IoT device manufactures to implement and monetize securely share private/public IoT resources available on demand by building Federated IoT Networks without revealing any private and identifiable confidential data. Such Network members can be incentivized for sharing statistical aggregated data in Pycoin or Colored Pycoin/Appcoin. This will also make machine to machine micropayments instantaneously and seamless.
Realtime Gaming.
Realtime gaming engines, online casinos and gaming apps can be built on Pycoin platform that can scale to tens of millions of users without associated cost of sever and costly maintenance of centralized cloud infrastructure.
Automated Betting & Lottery Pools.
Pycoins will enable ordinary folks to build private/public betting and lottery pools for optimal high-probability of winning odds for crypto-betting and for buying lottery tickets to guarantee the highest RoIs.
Decentralized DNS Clusters.
One can leverage Pycoin and its underlying binary chains of DAG and DexOS for assigning human-readable names to IoT nodes, machines, biometrically identifiable humans, secure smart contracts, platforms and so on.
Tokenized Financial Assets and Derivatives Contracts.
Pycoin can tokenize all global/local remittances, payments, trading and hedging. Pycoin can also be used to create automated and decentralized financial instruments - such as derivatives, bonds, commodities, debt instruments and securities denominated in both cryptocurrencies and fiat currencies.
Automated Hedge Funds
Autonomous Goal-driven and Self-managing Crypto-Hedge Funds with portfolios of fiat assets and cryptoassets under their management. These automated funds will not require constant supervision of human fund managers to run investment operations profitably in a sustainable way. The preferred risk-reward profiles and choices made by investors/LPs will be followed and executed strictly without any scope for discretionary violations.
Crypto darkpools
Autonomous Cryptodarkpools for providing privileged peer to peer trading facility and emergency liquidity support to high-frequency/low-frequency wholesale cryptoasset investors/traders.
Temporal Insurance Products.
Insurance companies will be able to provide temporal liability insurance using permissioned version of Pycoins. For instance, using Pycoin, an insurance company could charge rates differently based on where and under what conditions customers are operating their vehicles. A car driven on a clear day (ascertained by gathering information about the weather conditions from a weather service), in an area where all the roads are repaired (verified with information about road repairs supplied by the Department of Motor Vehicles, for instance), would be charged a lower rate compared with a car that's being operated in bad weather, perhaps on pothole-filled roads.
Global Supply chain.
Pycoin will also be useful in the supply chain. One can execute contracts that say, If a consumer receives cash on delivery at this location in a developing, emerging market, then this other product, many, many links up the supply chain, will trigger a supplier creating a new item since the existing item was just delivered in that developing market. Pycoin can be leveraged by logistic and shipping companies to power crewless unmanned cargo ships and coordinate global flow of goods and materials.
Realtime Video Communication capable Anonymous Web Infrastructure.
Pycoin enables realtime anonymous protocol for video calling, video chat and videoconferencing as well as for encrypted voice and texts.
Website:http://www.pycoin.io/Whitepaper:http://www.pycoin.io/static/whitepaper.pdf
My Profile Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1156662ETH: 0xF1e159EC7B38DD391F70ccA170DE31DfeBFee18d
My Profile Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1156662ETH: 0xF1e159EC7B38DD391F70ccA170DE31DfeBFee18d
