Blockstream Lanza Simplicity, new intelligent contract language for Bitcoin

The crypto development firm presented Simplicity, A programming language designed for intelligent contracts in the Capa 2 network Liquid, which operates Bitcoin.

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• Simplicity allows programability in Bitcoin Without compromising security.
• Language is executed in Liquid, A network with more than USD $ 3 billion in locked value.
• Was designed in 2012 by the researcher of Blockstream, Russell O’Connor.

Blockstream, the crypto infrastructure company co -founded by the developer and pioneer of Bitcoin, Adam Back, has officially announced the launch of Simplicity, A new programming language for smart contracts. The tool was created specifically to operate on Liquid, The layer 2 that operates on the Bitcoin blockchain.

This movement represents a significant advance towards the programmability of Bitcoin, a land historically dominated by networks such as Ethereum, indicates COINDESK.

What is Simplicity?

Simplicity It is a programming language designed for intelligent contracts that prioritizes security, formal specification and efficiency.

Unlike other solutions based on virtual machines (VM), Simplicity Avoid many of the security problems known in environments such as Ethereum. Back summarized it: “Simplicity gives Bitcoin expressive programming capacity, without the security problems that the chains based on virtual machines entail. ”

One of its distinctive characteristics is its absence of unlimited loops, which mitigates the risk of attacks that take advantage of vulnerabilities in the logic of execution, something that has affected other networks.

Simplicity also uses the model Unspent transaction output) of Bitcoin, where tokens behave as a digital effective, instead of following a model of accounts such as Ethereum. This choice seeks to maintain coherence with the original architecture of BTC, while its functionality expands.

Origins and evolution

Although the recent boom in initiatives such as Bitvm has promoted interest in programability in Bitcoin, The story of Simplicity It started much earlier. It was conceptualized in 2012 by the researcher of Blockstream, Russell O’Connor, as a formally specified and mathematically verifiable solution to execute complex contracts in Bitcoin.

Its development has remained away from the media focus, but has progressed constantly, until it is ready for a functional and safe implementation in the ecosystem Bitcoin.

Network Liquid as an operational base

Simplicity It is now available for developers in Liquid Networka second layer solution that offers rapid and confidential transactions on Bitcoin. According to recent data, this network has more than USD $ 3 billion in total blocked value (TVL), which represents a solid base for the deployment of decentralized applications.

With Simplicity, Developers can build similar tools to those seen in other networks Blockchain Enabled for intelligent contracts, such as programmable vaults, decentralized exchange houses (DEX), custody services and governance protocols, all with Bitcoin as a liquidation layer.

Implications for the ecosystem Bitcoin

The presentation of Simplicity marks an important step in the evolution of Bitcoin Beyond being a simple value transfer system. Although other networks have taken the front in terms of decentralized applications, Blockstream It suggests that the network of the main digital currency can have advanced programability without sacrificing your safety and stability.

In addition, when executing in an upper layer such as Liquid, Simplicity does not require changes in the base protocol of Bitcoin, which could facilitate its adoption within a traditionally conservative community in terms of code changes.

Simplicity It can also have implications for scalability, allowing more complex processes to be handled outside the main chain, maintaining the efficiency and safety of the original network.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of UNSPLASH.

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