Bitcoin improvement agency Blockstream has unveiled “Simplicity,” a programming language for good contracts constructed on the layer-2 community Liquid.
Co-founded by cryptographer and early Bitcoin contributor Dr. Adam Again, Blockstream has launched Simplicity with the goal of fixing the restrictions of Bitcoin as a venue for good contracts.
“Simplicity provides Bitcoin expressive good contracting energy, however with out the safety issues related to VM-based chains,” mentioned Again in an emailed announcement on Thursday. “It’s constructed from the bottom as much as be formally specified, safe, and environment friendly.”
The push for Bitcoin-native programmability has gained momentum lately, particularly since the introduction of BitVM in 2023, a framework that explored how advanced computations could possibly be verified on Bitcoin with out altering the bottom protocol.
Simplicity’s origins in truth predate BitVM, having been conceptualized by Blockstream analysis Dr. Russell O’Connor in 2012. It’s designed to allow good contracts eschewing a few of the features like unbounded loops that may result in vulnerabilities and exploits on networks like Ethereum.
As an alternative, Simplicity makes use of Bitcoin’s UTXO mannequin, whereby tokens operate like digital money and customers spend particular cash, versus account balances being up to date.
Simplicity is now reside on the Liquid Community, a Bitcoin layer-2 with over $3 billion in complete worth locked (TVL), permitting builders to construct most of the purposes commonplace on good contract-enabled blockchains, corresponding to programmable vaults, decentralized exchanges, custody providers and governance protocols, utilizing Bitcoin because the settlement layer.