Pieter Wuille, one of the most prominent bitcoin developers has unveiled a programming language proposal for the network. Pieter Wuille Proposes A New Smart Contract Language for Bitcoin.
Miniscript is a language for writing Bitcoin Scripts in a structured way, enabling analysis, composition, generic signing, and more.
Pieter Wuille addressed the proposal through a mail list of bitcoin developers and published it to his Twitter account. Wuille also said that it is a joint project with Andrew Poelstra and Sanket Kanjalkar.
The new language aims to make it easier for programmers to compose “smart contracts”.
It said that its main objective is “to implement spending conditions that consist of various combinations of signatures, hash locks, and time locks.”
Wuille said he is now posting it to the email list because he believes that it’s now reached “a stage where I’d like to get it some more attention.”
Wuille debated with an example “that permits A to take the coins at any time, and B after [one] day.”
“My hope is that Miniscript, together with things like PSBT can reduce some of the barriers between pieces of software. Ideally, the executive’s 2FA setup could interact flawlessly with the cold storage setup. Thus, computing the necessarily composed script, and still be able to sign.”
Pieter Wuille Proposes A New Smart Contract Language for Bitcoin. Wuille further added that the project includes a policy compiler. This you can identify under what conditions an output should be spendable and with what relative probabilities. It will then find the most economical Miniscript-compatible script for it.
Wuille specifically mentioned on Twitter that it is mostly unrelated to work on Taproot, as Miniscript works with Bitcoin as it exists today.
Wuille concluded by saying:
“I’ll work on incorporating parts of this in Bitcoin Core if that’s desired [I believe it could be very useful], but ideally it gets included in many pieces of wallet technology.”