Bitcoin.com Releases SLP Indexer Server for High Performance Token Services

Bitcoin.com is releasing the open supply SLP Indexer Server for validating Easy Ledger Protocol tokens as a part of its dedication to the event of the token ecosystem. The device is designed to make SLP token transactions carry out as quick as BCH and empower builders to create even better tasks on the Bitcoin Money community.

Additionally Learn: Methods to Create Customized SLP Tokens With the Bitcoin.com Mint

Bitcoin.com Introduces SLP Indexer to Builders

Bitcoin.com SLP Indexer is a device that may validate an unconfirmed SLP transaction in round 1 ms. The software program has been working in manufacturing for months already, powering the brand new Bitcoin.com Pockets back-end. Right this moment, Bitcoin.com introduced it has determined to launch SLP Indexer in open supply for the Bitcoin Money group, obtainable on Github.

For a whole description of the underlying algorithm, builders can try this weblog publish on Learn.Money written by Bitcoin.com CTO Emil Oldenburg with all of the technical particulars. “We invite exchanges, wallets, gaming platforms, and SLP supported purposes to do this out. We’re assured in its capability to scale to your small business wants,” he states.”We constructed this with scalability and pace in thoughts. We’d like SLP tokens to really feel as quick and snappy as regular BCH transactions. Person expertise is every little thing.”

The builders clarify that this software program could be very straightforward to arrange, runs on the favored database program Mongo DB and scales nicely. It consists of 1 software that validates SLP transactions and saves every little thing in Mongo DB, and one API software. The primary half known as the Bitcoin.com SLP Indexer Service. The opposite half is a read-only REST API layer referred to as Bitcoin.com SLP API. The SLP API service can scale linearly and is ready to serve round 20,000 requests per second.

The builders plan to run a full safety audit this month to ensure the validator is totally suitable with different SLP validators on the market. The software program is written in Java and created from scratch with no dependencies on present Javascript-based SLP libraries. It’s utilizing bitcoinj to connect with the BCH community and might run with out devoted full nodes. Solely the SLP knowledge is saved to the database, so the quantity of information that is still on the server is small.

Bitcoin.com will supply this as a cloud service and will probably be part of the corporate’s public REST API. Moreover, anybody who needs to run it themselves on their very own servers can achieve this.

The Easy Ledger Protocol Ecosystem

If you’re not but acquainted with this innovation, Easy Ledger Protocol (SLP) is a straightforward to make use of, strong and extensible token administration system that permits anybody to create tokens on the Bitcoin Money community in a permissionless means. It has helped the event of an ecosystem for BCH that replicates the number of ERC20 tokens on the ETH community.

SLP tokens can simply be created, traded, and managed on the Bitcoin Money blockchain inside seconds, whereas costing customers solely fractions of a penny for every transaction. All transactions are recorded onchain, and customized token conduct might be outlined utilizing a bitcoin Script improvement language.

SLP token adoption has grown quickly over the past yr, with help built-in by the likes of Cybavo – a cybersecurity agency offering safe non-public key administration to among the largest exchanges on the earth. That is partly due to Bitcoin.com Trade which has began itemizing SLP tokens for buying and selling on its platform. These embody property equivalent to Gocrypto’s GOC, a token that permits on-line or bodily retailers to simply accept crypto funds and obtain settlement of their native fiat foreign money.

Different examples of SLP-based token adoption are the launch of an SLP token referred to as ACD issued by the Tokyo-based ANA Holdings subsidiary Alliance Cargo Direct, and the group behind Honk funding a brand new sports activities betting platform through the issuing of a SLP token. Greater than 6,400 tokens have been created utilizing the SLP framework thus far.

What do you consider Bitcoin.com releasing this open supply software program for higher indexing SLP tokens on Bitcoin Money? Share your ideas within the feedback part under.

Photographs courtesy of Shutterstock.

Confirm and monitor bitcoin money transactions on our BCH Block Explorer, the very best of its sort anyplace on the earth. Additionally, sustain along with your holdings, BCH and different cash, on our market charts at Bitcoin.com Markets, one other authentic and free service from Bitcoin.com.

Avi Mizrahi

Avi Mizrahi is an economist and entrepreneur who has been overlaying Bitcoin as a journalist since 2013. He has spoken in regards to the promise of cryptocurrency and blockchain know-how at quite a few monetary conferences world wide, from London to Hong-Kong.