Simplicity programming language represented

Russell O’Connor from Blockstream represented Simplicity - programming language for smart contracts
31 October 2017   1207

Blockstream developer Russell O'Connor published white paper of Simplicity, a new programming language designed to be an alternative to existing languages used to create smart contracts. It is assumed that Simplicity can be implemented over time in the bitcoin protocol via the softfork mechanism.

As stated in the blog Blockstream, Simplicity is based on the algorithm of sequential computation and offers several important improvements, the main one of which is the extension of the language capabilities.

 One of the problems with Bitcoin Script, Bitcoin’s own programming language, is that a number of opcodes were disabled in Bitcoin’s earliest days. For example, you can add numbers in Bitcoin Script, but you can’t multiply them. 

Blockcstream Blog

Among other important features, which Blockstream pays attention to, is an increased level of security - Simplicity is a Turing incomplete language that provides limitation of a recursive call, protection against endless cycles and allows for static code analysis.

Also Simplicity has built-in support for Merklized Abstract Syntax Trees (MAST).

All this in combination allows you to create a more secure, efficient and functional code for smart contracts.

A more detailed analysis of Simplicity is expected in the near future, while you can get acquainted with whitepaper

Brazilian Central Bank to Issue Stablecoin

According to participants of the project, the issue of the BNDES coin will help restore public confidence in Brazilian state banks
17 December 2018   68

The state-owned Brazilian National Social Development Bank intends to issue a cryptocurrency token tied to the Brazilian real. It is reported by CoinDesk.

The pilot project for the production of a token BNDES based on Ethereum will start in January next year. At first, the coin will be used to finance cultural institutions. In particular, the bank will allocate a certain number of new tokens to the local cinema agency.

As the newspaper notes, the bank conducted experiments with steyblecoin throughout 2018. The consultant of the project for the release of a new “stable coin” will be the well-known Ethereum start-up ConsenSys.

According to representatives of the bank, the issue of the BNDES coin will help restore public confidence in Brazilian state banks, which are often criticized due to corruption scandals.

Also, the bank is confident that in the future, stablecoin can be used to finance organizations and projects from various fields.

Note that recently in Brazil there has been a trend towards liberalization of the regulation of cryptoindustry. For example, in October, the Brazilian Securities Commission allowed local investment companies to invest in a cryptocurrency ecosystem through the acquisition of derivatives and shares in foreign funds. It is noteworthy that at the beginning of the year the same financial regulator announced the prohibition of both direct investment in cryptocurrency and indirect investment through intermediaries in the person of foreign companies.