Chain, blockchain startup that tries to simplify the creation of smart contracts on the Bitcoin blockchain.
The company, based in San Francisco, has released a compiler with open source code which compiles from Ivy’s own programming language Chain, in bitcoin script, a low-level programming language first and the biggest block in the world.
According to a recent post in the blog Chain, Ivy should help developers “create SegWit compatible with bitcoin addresses that ensure the fulfillment of any conditions supported by the bitcoin Protocol, including signature verification, the hash of the commits and temporary conditions”.
Public demo version of Ivy was submitted in December 2016.
Thus, developers can create smart contracts on the Bitcoin Script. However, the limitations of the underlying virtual machine has several difficulties of creating effective programs in that language. As noted by the representatives Chain:
Development in Bitcoin Script is considered to be somewhat esoteric.
However, it is worth noting that the language Ivy is currently more suitable for educational and research purposes, as it is still a prototype that was not tested properly.