Blockstream Launches “Simplicity” Smart Contract Language on Liquid Network
Blockstream has launched "Simplicity," a programming language for smart contracts on the Liquid layer-2 network. Co-founded by Dr. Adam Back, Simplicity aims to address Bitcoin's limitations for smart contracts.
- Simplicity offers expressive smart contracting capabilities while avoiding security issues found in VM-based chains.
- The push for Bitcoin programmability has increased, especially after the introduction of BitVM in 2023.
- Simplicity originated from research by Dr. Russell O'Connor in 2012 and avoids features like unbounded loops that pose vulnerabilities.
- It utilizes Bitcoin's UTXO model, allowing tokens to function as digital cash.
- Simplicity is now operational on the Liquid Network, which has over $3 billion in total value locked (TVL), enabling applications like decentralized exchanges and governance protocols using Bitcoin for settlement.