Blockstream, co-founded by cryptographer Dr. Adam Back, has unveiled "Simplicity," a groundbreaking programming language for smart contracts operating on Bitcoin's Liquid Network layer-2 solution. Designed to overcome Bitcoin's inherent limitations for complex computations, Simplicity employs a formally verifiable approach that eliminates vulnerabilities like unbounded loops common in Ethereum's Solidity.
Dr. Back emphasized: "Simplicity gives Bitcoin expressive smart contracting power without the security problems associated with VM-based chains. It’s built from the ground up to be formally specified, secure, and efficient." The technology, originally conceptualized by Blockstream researcher Dr. Russell O'Connor in 2012, leverages Bitcoin's UTXO model for deterministic execution and enhanced security.
Now live on the Liquid Network—which boasts over $3 billion in total value locked (TVL)—Simplicity enables decentralized exchanges, programmable vaults, custody services, and governance protocols using Bitcoin as the settlement layer. This deployment marks a strategic expansion of Bitcoin's utility beyond store-of-value functionality, enabling high-assurance financial applications while preserving the main chain's security through layer-2 separation.