The Blockchain Chain development chain has announced the launch of Ivy, a programming language that claims to make possible the writing of contracts for Bitcoin Blockchain
In general, smart contracts are associated with Ethereum, the Blockchain created to support Turing-complete or universally-calculated intelligent contracts.
In a blog on Monday, Chain explains that writing smart contracts for the Bitcoin network has always been possible, but the language used to do so, Bitcoin Script, is "low level" and has limited functionality.
Chain recognizes that some players, such as portfolios, exchanges, and payment platforms, have used the language successfully for various solutions, but claim that "the development of the Bitcoin script is considered somewhat esoteric. "
According to Chain, Ivy is a "higher level" language that compiles to B itcoin Script facilitating the writing of intelligent contracts for the Bitcoin network by the developers:
"Ivy helps you write custom and compatible SegWit Bitcoin addresses that apply arbitrary combinations of conditions supported by the Bitcoin protocol, including signing"
Asked about the meaning and possibility of the Ivy's use of Bitcoin in competition with Ethereum for the ease of use of contracts, Bitcoin developer Jimmy Song expressed his doubt by saying to Cointelegraph:
"Ivy makes SCRIPT more easy to manipulate. This does not fundamentally change Bitcoin, but it makes coding easier. ETH is complete to Turing, which BTC can not have without a kind of soft fork to a minimum. I do not see the ability of "smart contracting" ETH as a "feature", but rather as a vulnerability. The attack surface on the platform of ETH smart contracts is much larger. The fundamentals have not changed, it's rather a nice tool for developers.
If the developers actually use Ivy to write smart contracts for Bitcoin, the network has a long way to go The current status of Ethereum as a must-have platform for writing of intelligent contracts.