Bitcoin developer BlockStream has introduced “Simplicity,” a programming language for sensible contracts constructed on Layer 2 Community Liquid.
Co-founded by Cryptographer and early Bitcoin contributor Dr. Adam Again, BlockStream has launched simplicity with the goal of fixing Bitcoin restrictions as a venue for sensible contracts.
“Simplicity offers Bitcoin's expressive sensible contract energy, however there are not any safety points related to VM-based chains,” introduced in an e mail Thursday. “It's formally designated, constructed from the bottom as much as be secure and environment friendly.”
Particularly, since BITVM was launched in 2023, the promotion of Bitcoin native programmers has gained momentum in recent times. It is a framework that explores the best way to validate advanced calculations in Bitcoin with out altering the fundamental protocol.
Actually, the origin of Simplicity was pre-BITVM and was conceptualized in 2012 by Dr. Russell O'Connor, Ph.D., Blockstream Analysis. It’s designed to keep away from a few of the options like Ethereum, resembling community vulnerabilities and unbound loops that may result in exploitation.
As an alternative, Simplicity makes use of the UTXO mannequin of Bitcoin. This can enable the token to behave like a digital cache, and customers will use sure cash fairly than updating their account steadiness.
At the moment, simplicity is dwell on liquid networks and Bitcoin Layer 2 with whole worth locks (TVL) of over $3 billion, permitting builders to make use of Bitcoin as their settlement layer to construct well-liked purposes on sensible contract-enabled blockchains, together with programmable vaults, decentralized exchanges, custody companies, and governance protocols.
