Blockstream has launched a new blockchain language called Simplicity. The high security intelligent bargaining language aims to provide flexibility and expressiveness for calculations of smart contracts.
Simplicity has been built to be compatible with the Blockstream Elements platform. Elements is an open source sidechain with features such as reserved transactions and resources issued.
Announcing the public code repository for Simplicity! The Simplicity programming language aims to provide flexibility and expressivity for the calculations, while enabling the verification of safety, security and costs of #blockchain-based #smartcontracts. ✅⛓️ https://t.co/DeM07bw5aD pic.twitter.com/VBHkkCRMGY
– Blockstream (@Blockstream) November 29, 2018
In the announcement, Blockstream had some blatant excavations on the Ethereum platform after reporting some recent security flaws.
"Ethereum's EVM still faces these challenges: Recently, an EVM upgrade failed during the test because implementations did not agree on the result of a calculation.The funds were stolen or otherwise irrecoverable due to errors and intelligent contractual logic programs that exceed their resource limits, "he said.
Examples include the DAO attack in July 2015 and the peer portfolio bug since July 2017.
Not possible on Bitcoin
Blockstream went on to say that "the language of Bitcoin's Script is generally limited to combinations of digital signature checks, timelock and hashlock".
This type of scripting allowed Blockstream and other projects to build the Lightning network. Just this week, Coin Rivet brought you the story of the Lightning network which has reached the capacity of 450 BTC (300% growth this very month).
For smart contracts on Bitcoin, it seems that Blocksteam's ability "language lacks the expressiveness needed for more complex intelligent contracts".
Solving a simple problem?
Simplicity helps to solve problems that make programming languages unsuitable (of their choice). Users must all agree, to make sure that each participant in an intelligent contract is informed of all possible results in advance, preventing denial of service attacks and, finally, knowing the costs of performing their own contract. program for all possible inputs.
The early days for blockchain and smart contract implementations are still far away, and competition is certainly accumulating among competing "level two" projects (regardless of your preferences on public blockchains).
One thing we can definitely look at the Blockstream Lightning shop must be this t-shirt, which includes all the code.
Maybe they can send one to Vitalik for his next appearance on CNBC.