Bitcoin to Get Smart Contracts

simplicity bitcoin smart contracts

MuSig, Taproot, Threshold Signatures and even scriptless scripts are some of the developments that might come soon-ish to bitcoin, all connected to signatures and getting them to do things or compressing them further. Then there’s miniscript. “Why not call the subset of script, subscript instead of miniscript?” – someone asked Pieter Wuille, who in a joint effort with Andrew Poelstra, has come up with what he wanted to call descriptors. “People found it too confusing,” he said, so we’re stuck with miniscript. At a very high level description, Wuille says: “Bitcoin script is mostly useful for simple policies but there’s a lot more possible than what it is being used for. This is partly because it’s hard to make things interact well. This sort of interaction could over time mean letting things like lightning client and a multisig client trivially interact without needing to read through all the protocol work……

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