EOS, ETH stand by! Bitcoin Core developers say Bitcoin is the most effective smart contract platform

In a recent discussion at Bitcoin Expo 2019 in Massachusetts, USA, Bitcoin Core engineer Peter Todd said Bitcoin has been the most effective as a smart contract platform.

In the discussion, Peter Todd talked about various smart contract platforms, such as EOS, and their permission-less features. He said that most of the current smart contract platforms are terrible and the technology is mediocre.

Peter further added that the EOS platform includes everything in the consensus model, which is actually too complicated. He pointed out that more meaningful platform features should be scalable rather than completely complex.

He says,

Bitcoin, in production is the most successful smart contract platform because it is very simple. Because it relies on very simple things and very clearly which actually works. I talk with smart smart contracts have extensionally legal contracts but the important thing is to have a contract which you can enfore with technology.

He further added that this does not necessarily mean that the programming code used must be complex to be effective. The bitcoin lightning network is an example of a smart contract, and the script on the chain is actually technically the same as the different use cases for verification. .
Peter Todd and Jamiel Sheikh were also asked about private-sector-based coins, such as JP Morgan's JPM Coin and Facebook's cryptocurrency.

Coinhaus CEO Jamiel said that these new coins are more inclined to a B2B system, which he called "enterprise tokens." He said that this shows the growth trend of B2B companies, which have the potential to bring growth to these companies.

He said that the existence of Bitcoin and Ethereum will continue to have an important impact on the public blockchain, and these "enterprise tokens" will remain in the B2B ecosystem. Those who want to get these "enterprise tokens" must be corporate customers of the organization. This arrangement spreads quickly enough in large organizations to become the normative standard between customers and organizations.

However, Peter Todd continues to mention that he did not see enough technological innovation in these “enterprise tokens”. These coins are more suggestive of political and regulatory innovations, which he believes are attributed to Bitcoin.

He said that Bitcoin created such an ecosystem that contributed to the existence and acceptance of the currency, which is why the concept of cryptocurrency was not removed from the system.