Bitcoin Development Firm Blockstream has revealed “simplicity”, a programming language for smart contracts built on the Layer-2 network fluid.
The co-foundation of cryptographer and early Bitcoin contributors Dr. Adam Back, Blockstream has introduced simplicity with the aim of solving the limitations of Bitcoin as a place for smart contracts.
“Simplicity gives Bitcoin expressive smart contracting power, but without the security issues associated with World Cup-based chains,” said back in an email message on Thursday. “It is built from the bottom of being formally specified, safe and effective.”
Push for Bitcoin-native programmability has gained momentum in recent years, especially since the introduction of BitVM in 2023, a framework that explored how complex calculations could be verified on Bitcoin without changing the basic protocol.
In fact, the origin of simplicity is the previous BitVM, after being conceptualized by Blockstream Research Dr. Russell O’Connor in 2012. It is designed to enable smart contracts that avoid some of the features of unlimited loops that can lead to vulnerabilities and utilization on networks such as Ethereum.
Instead, simplicity uses Bitcoin’s UTXO model, whereby tokens act as digital cash, and users use specific coins, as opposed to account balance that is updated.
Simplicity is now live on the floating network, a Bitcoin-Lay-Layer-2 with over $ 3 billion in total value locked (tvl), giving developers the opportunity to build many of the applications common on smart contract-activated blockchains, such as programmable vaults, decentralized exchanges, custody and control protocols using the Bitcoin such as the BosThe Law.
