• Thu, 17 Oct 2019, 10:52 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

eToro introduces programming language Lira to simplify derivatives trading

Mon, 16 Sep 2019, 03:29 am UTC

Online multi-asset trading provider eToro launched a new programming language to make derivatives trading easier.

Dubbed 'Lira,' the new language will significantly lower the risk involved in finalizing financial contracts, according to eToro chief blockchain scientists Omri Ross. Speaking ahead of the Ethereal Summit Tel Aviv, he said that the language will enable new derivatives products to be created from assets based on the Ethereum blockchain.

eTorox Labs, the research and development of eToro, introduced a demo trading platform, which allows retailers and institutional investors to trade derivatives. The platform also aims to test a wide range of contracts, according to a report by CoinDesk.

Lira permits a possibility to set different time limits on trade, swap different digital assets in a trustless manner, and program complex settlement conditions.

eToro opened-sourced the programming language to promote its ongoing development that includes “anything from simple futures contracts to complex exotic contracts,” such as collateralized loan obligations.

eTorox Labs plans to deploy Lira for different other decentralized finance (DeFi) projects, which will be introduced on various blockchains.

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,” Ross said.

Contrary to conventional programming languages, Lira is “domain-specific,” which means it is restricted to describing and executing a limited instruction set. Its only function is to write, verify, and collect on terms and conditions specified in a self-executing contract.

In writing a financial contract, Lira simplifies the development process and reduces risks of error by writing at an average of between 6 and 10 lines of code.

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,” he noted.

Last July, eToroX added support for 120 ERC-20 tokens to its multi-crypto on-chain wallet. Included in the new offerings are stablecoins offered by eToro itself called eToro EuroX (EURX) and eToro US Dollar (USDX).

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,114.73 (-0.55%)
  • Ethereum (ETH) $177.77 (-0.91%)
  • XRP (XRP) $0.297300 (+2.74%)
  • Bitcoin Cash (BCH) $219.36 (-1.63%)
  • Litecoin (LTC) $53.88 (-1.71%)
  • Bitcoin (BTC) $8,114.73 (-0.55%)
Oct 17, 2019 (Thursday)
Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows
Burj Khalifa owner Emaar taps JPMorgan’s Quorum blockchain for new rewards and loyalty platform
Towo Labs secures investment from Xpring to develop XRP hardware wallet firmware
Crypto Technicals: Bitcoin cash (BCH) finds strong support at 208.85, break below to strengthen bearish bias
US Fed actively looking and debating digital currency issuance: Dallas Fed President Robert Kaplan
Crypto Technicals: LTC/USD pauses at trendline support (52), further weakness on charts
EY launches blockchain solution to enhance public fund management
Crypto Technicals: ETH/USD set to extend weakness, eyes trendline support at 158
Crypto Technicals: BTC/USD finds major support at 55W EMA (7762), break below to plummet prices
Natixis, Raiffeisen Bank and others participate in global tokenised collateral trial on R3’s Corda
Oct 16, 2019 (Wednesday)
Bermuda starts accepting stablecoin ‘USDC’ for tax payments
Oxford English Dictionary officially adds ‘satoshi’
Crypto Technicals: XMR/USD holds above trendline support, 'Bullish Divergence' raises scope for upside
South Korea seeks to transform trade finance using blockchain technology by 2021
Crypto Technicals: XRP/USD finds stiff resistance at 21W-EMA (0.3008), break above to accentuate gains
Layer1 raises $50M from Peter Thiel and others to build bitcoin mining facility in Texas
Crypto Technicals: LTC/USD consolidates break below 20-DMA, on track to test trendline support at 52.25
Ford trials geofencing and blockchain technology to optimize energy efficiency of vehicles
India's YES Bank wants to lure more clients for its next planned blockchain model
Crypto Technicals: ETH/USD hovers around 20-DMA, break below will support further weakness
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.