Purse Introduces Bcoin Library To Spur Bitcoin Applications

By October 1, 2016Bitcoin Business

Purse , an online marketplace that encourages bitcoin use and innovation, has introduced bcoin, a Javascript library to help bitcoin businesses build applications. Purse provides a full node implementation that allows it to utilize new additions to the bitcoin code base as they become available. Bcoin is consensus aware and is up to date with the latest BIPs, supporting Segregated Witness, versionbits, CSV, and compact block relay, according to Github . It also has preliminary support for BIP151 (peer-to-peer encryption), BIP150 (peer authentication), and BIP114 (MAST). It runs in node.js, but it can also be browserified. In a posting on Medium , Purse noted it was established to provide real world applications for bitcoin . It began by offering Amazon discounts. It now carries more inventory than Amazon, eBay and Google Shopping, with lower prices. The company’s mission is to provide ultimate transparency and efficiency to global commerce. Built On Top Bitcoin Core The Purse team tested third party services developed to make bitcoin more secure and simpler, but these services did not meet the necessary scalability and functionality needs. Hence, Purse built on top of Bitcoin Core for its initial wallet infrastructure. Bitcoin Core’s code base, while the standard, proved hard to work with. This is why only a small number of developers actively contribute to Bitcoin Core. Only a few dozen fully comprehend all of its quirks. Moreover, Core wasn’t built for big marketplaces. It takes a long time to deploy new features. These realities make it hard for bitcoin businesses to create applications, a situation that undermines new use case developments. Bcoin Addresses Full Node Issues Christopher Jeffrey, a former BitPay employee, joined Purse as chief technology officer to build bcoin. Full node presents a unique set of issues. Deploying a full node wallet from scratch […]

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