Thread by @LeahWald

1/ Blockstream released a developer preview of Simplicity! Congrats!! You can check out what Bitcoin might look like using Simplicity using regtest. Huge Kudos to Andrew Poelstra & Russell O’Connor and the @Blockstream team!
medium.com/blockstream/si…

2/ Now, I’m most definitely not a dev but here’s my best attempt to break it down (thank you to Allan Piscitello who was patient enough to teach me!):

This release includes Jets, which recreates the previous release’s test transaction but now with a greatly reduced program size

3/ Jets let you optimize them but still prove its the same as Simplicity programs, which are easier to prove they are correct- streamlines contract development.

Background: Liquid is built on top of elements, open-source- and is one instance.

4/ People are using elements in single-member federations. Those who are aware of Simplicity programs can validate them & those who can’t would ignore it and treat it as valid, just like with SegWit.

5/ Elements uses Bitcoin Script but also allows for extending it through Simplicity. Bitcoin defined script versions in SegWit, so adding new features is easy.

6/ #Simplicity is a low-level programming language that makes things like validating a sig, slow. Good because of the power of being perfectly low-level descriptive but can be optimized & fast with higher-level languages like C & prove it is Identical to the Simplicity program

7/ Note about Simplicity’s future is “If Bitcoin had Simplicity scripting today, the recent BIP proposal for Taproot & Schnorr signatures could instead have been implemented as a smart contract, without needing a soft-fork, as could the new Lightning network design eltoo.”

8/ This last blog update on Simplicity, which released the source code: blockstream.com/2018/11/28/en-… - @Adamback presented a webinar on the basics of Simplicity:

9/ Developments to come for Simplicity: implement on the rust-miniscript library, allowing users to compile Miniscript policies to Simplicity

As a side, for businesses working with security token platforms, a very interesting development to watch is #Liquid Securities.

10/This is on top of Liquid where you can do a direct atomic swap asset for asset directly for the security without the risk of that security. Also this way you have the security of knowing that you’re getting the real deal, the real token and therefore it has cross-compatibility

11/You can, therefore, add security tokens for dividends and stock offerings. Which is fascinating and extremely different from the ICO boom. And extending to investors- they can take custody of their security tokens with the Blockstream Green multiplatform wallet @LarryBitcoin

12/ As @lopp illuminated, #Bitcoin has a beautiful and powerful history of technologies & technologists that built upon decades of work to develop Bitcoin to where we are today & the innovation never ceases.We truly live in a marvelous & exciting time! 🤗

lopp.net/bitcoin-inform…