eToroX Launches New Blockchain Programming Language, Lira, To Aid Digital Asset Derivatives Trading

    The cryptocurrency wing of social trading platform eToro, eToroX, announces a new programming language that aims to ease retail and institutional investment of derivatives on the platform. The chief blockchain specialist on eToroX revealed the development of the new language, Lira, during the Ethereal Summit in Tel Aviv 2019.

    eToroX launches Lira programming language to ease digital asset derivatives trading (Source: eToroX)

    The new language by eToroX Labs team aims to allow users to set their trading price levels, time limits on trades, create unique smart contracts, create swap contracts on different digital assets and other contract settlement terms. The blockchain based language will allow users to build peer to peer, trustless decentralized applications (dApps) to better derivative trading.

    Speaking on the launch of the Lira language, Ross remarked,

    “We are excited to see how the market and the community will adopt this new programming language in decentralized applications, on cryptocurrency exchanges and in institutional finance.”

    The Lira Language

    Despite the ravishing qualities of the language in writing and executing derivatives, the language is ‘domain specific’ – allowing only a set rule of conditions to be executed. In Lira’s case, users can only write, verify, and settle self-executing contracts.

    However, the language is open sourced promoting the development of the platform by the crypto community across the globe to easily execute derivative contracts. The report released by eToroX states users will be able to write their codes in simple 6-10 lines of code, removing the cumbersome process of prior coding languages.

    Ross expects the reduction in code lines to reduce the number of errors made in financial transactions and other computations in creating the derivative. He remarked,

    “Essentially, financial contracts are trivial computations, typically involving a lot of money, making them a highly suitable use-case for domain-specific programming languages. It can only describe a very limited set of instructions but does so with the highest level of competence and integrity attainable.”

    EToroX not letting off

    The recent launch of the Lira language comes a few days after the launch of the AlgoX Prime API platform on eToroX that aims to integrate institutional grade traders in digital asset trading. The efforts built by the company in creating stable coins and better investment vehicles is boosting the overall trading and adoption of cryptocurrencies globally.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Lujan Odera
    Lujan Odera
    Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    44% Think Bitcoin's in a Bull Market & Alt-Season Will Occur in 2020: Kraken Survey

    In the currently unstable environment where industries are laying off, cryptocurrency exchange Kraken is on a hiring spree as it moves ahead to expand...

    Bitmain Releases Antminer E3 Firmware Update to Keep It Mining ETH Till October

    Mining hardware firm, Bitmain, set to extend the durability of its once “most powerful Ethash miner” from April to October 2020. The mining firm...

    Tether Prints over a Billion USDT in March, Rising Demand or Exchange Run?

    We are about to end March, a month that saw the price of bitcoin hitting $3,850 and ready to end the quarter with over...

    Bitcoin Beating Gold But What will Hold its Value Better in Five Years?

    The price of bitcoin is currently trading in the green by 2.34% as it trades around $6,450. Although down 11.89% YTD and about 34%...

    Lightning Labs New LSAT Protocol Promises To Do Away With Usernames And Passwords

    A statement from Lightning Labs CTO, Olaoluwa Osuntokun, revealed the specs of the Lightning Service Authentication Tokens (LSAT) which is expected to act as...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.