#CreatorPad Blockstream announced the launch of 'Simplicity', an innovative smart contract language on Bitcoin.

During this Thursday, 'Blockstream', co-founded by cryptographer and one of the early collaborators of the Bitcoin network, Adam Back, presented 'Simplicity', an innovative smart contract language, on the 'Liquid Network', which aims to address the limitations of the network.

'Simplicity gives the Bitcoin network expressive power for smart contracts, but without the security issues associated with virtual machine-based networks,' expressed Adam Back in a statement. 'This language is designed from the ground up to be formally specific, secure, and efficient,' he added.

It is important to note that the push towards native programmability of the Bitcoin network has gained momentum in recent years, especially since the introduction of 'BitVM' in 2023, a framework that explored how complex calculations could be verified on Bitcoin without altering the base protocol.

As a reference, the origins of Simplicity predate BitVM, previously conceptualized by Blockstream engineer Russell O’Connor, and is the result of years of focused development by 'Blockstream Research', one of the most prolific research teams in the Bitcoin ecosystem, and the driving force behind the 'Taproot' upgrade and other historic innovations of the popular network.

On the other hand, Simplicity uses Bitcoin's 'UTXO' model, whereby tokens function as digital money and users spend specific tokens, instead of account balances being updated. This allows for formal verification of contracts before execution, making it particularly suitable for high-security use cases in banking and institutional finance, where reliability and transparency are essential.