Contract Coin is embedded in the Ethereum Virtual Machine to create a Bitcoin blockchain with Ethereum attributes

Is this the beginning of the end for Ethereum? This question was asked on a subreddit for posting news and discussing Bitcoin and its ecosystem.

Counterparty has previously announced that they are porting the Ethereum Virtual Machine to the Bitcoin blockchain. This move will bring all Ethereum functionality to Bitcoin, except for some features such as block time.

Solidity

After Contract Coin is implanted into the Ethereum virtual machine, the execution of smart contracts will use exactly the same programming language as Ethereum smart contracts, namely Solidity, whose syntax is similar to JavaScript.

Solidity is designed to compile code for the Ethereum Virtual Machine, which is used to easily create smart contracts for applications such as programmatic escrow services, identity systems, social networks, consensus creation tools for voting, crowdfunding, secret auctions, multi-signature wallets, and more.

Solidity has a professional web integrated development environment that provides a shell that can access the complete Ethereum environment.

Solidity can run on Counterparty’s free and open platform, using the Bitcoin network to create a robust and secure market directly on the Bitcoin blockchain, transforming Bitcoin’s function from a peer-to-peer payment network to a complete peer-to-peer financial platform.

Legacy

Another forum member asked: With Counterparty embedded in the Ethereum Virtual Machine, will users be able to create decentralized autonomous organizations (DAOs)? What if users still believe that smart contracts are not the purpose of Bitcoin? Didn’t Counterparty claim that Ethereum failed two years ago?

Some say that Counterparty’s success will increase Bitcoin’s chances of survival against Ethereum and other altcoins. How valuable is the Ethereum Virtual Machine to the Bitcoin network? How can it ensure that the value of XCP (Counterparty’s virtual currency) remains useful in this context?

Does Counterparty have a use case that would get it up and running suddenly like Rootstock?

These questions will be answered during additional testing over the next month on the Ethereum Virtual Machine’s implementation on the Bitcoin blockchain.