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Chain wants to simplify smart contracts for Bitcoin Blockchain

A blockchain technological startup, Chain, is trying to simplify the recording of smart contracts on the bitcoin blockchain.

20.Dec.17 1:13 PM
By Daria Zaytseva


Chain wants to simplify smart contracts for Bitcoin Blockchain
The company, based in San Francisco, has released an open-source compiler that translates between its own smart contract language based on Ivy, and Bitcoin Script, the low-level programming language of the world's first and largest blockchain.

According to the latest blog post of Chain, Ivy strives to help developers "write custom, SegWit-compatible bitcoin addresses that support any combination of conditions supported by the bitcoin protocol, including signature checks, hash commitments and timelocks."

As previously reported, Ivy was represented in a public demonstration in December 2016.

While advanced smart contract functionality of ethereum is a key feature that distinguishes it from bitcoin, the latter does allow developers to write smart contracts using Bitcoin Script.

However, the limitations of the basic virtual machine have made the language difficult to write in. Nevertheless, it is worth noting that the Ivy language is now more suitable for educational and research purposes, because it is still an unchecked prototype of the software.

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