February 24, 2024

The future of smart contracts and tokens on bitcoin

3 min read

Dark Fusion Technologies, the company behind the simple contract language (SCL), has made groundbreaking progress in the race to develop smart contracts and tokens on bitcoin’s Layer 1, becoming one of the first projects to accomplish this incredible feat.

This revolutionary development holds massive potential for the tech industry and various customers and institutions alike, paving the way for a new era of secure, scalable and interoperable smart contracts.

With its enhanced security, scalability and cross-chain compatibility, SCL empowers the creation of innovative applications across diverse sectors including decentralised finance, tokenised assets, supply chain management, gaming and NFTs, and data management and privacy.

This technological breakthrough caters to a wide range of users including blockchain developers, businesses, financial institutions, governments and individuals, enabling them to leverage the power of decentralised systems and digital assets in a secure, efficient and transparent manner.

SCL is a new smart contract language that is specifically designed for bitcoin. It is layer-independent, meaning it can be used on any UTXO-based (unspent transaction output) blockchain. SCL is particularly well-suited for bitcoin because it takes advantage of bitcoin’s unique features such as its strong security and decentralisation, confidently ticking off the blockchain trilemma.

SCL smart contracts differ from ethereum smart contracts in several key ways. Firstly, SCL smart contracts offer enhanced security. They employ single-use cryptographic seals to isolate each smart contract, greatly increasing resistance to hacking attempts. Secondly, SCL smart contracts boast superior scalability. They use a method called batching to simultaneously process multiple transactions, significantly enhancing throughput. This feature is a groundbreaking achievement for Layer 1 transactions. Thirdly, SCL smart contracts exhibit greater efficiency. Written in Rust, a high-performance modern programming language, SCL allows developers to use virtually any programming language to craft their smart contracts, making it a language-agnostic protocol.

“The best part about working on cutting-edge tech is feeling like you’re at the edge of human knowledge and knowing that something you do may push that edge a little bit further,” says Dominic Obojkovits, creator and chief engineer at Dark Fusion.

Dark Fusion is already working with a number of partners to develop and deploy SCL smart contracts on bitcoin. In collaboration with its esteemed partner networks, Dark Fusion and its founding partners are poised to commercialise and distribute their integrated technology solution. This initiative will leverage Dark Fusion’s expansive opportunity network, which notably includes access to prominent global airlines, managers of major sporting events and festivals, and a broad spectrum of retailers.

Additionally, Dark Fusion’s partner client portfolio comprises influential institutional and retail payment leaders. This encompasses engagements with global card schemes and four of the five largest African banks, as well as leading African non-banking financial intermediaries and the continent’s most significant stock exchange. This strategic alliance represents a significant step for Dark Fusion toward scaling up its operations for global expansion.

Dark Fusion believes SCL has the potential to revolutionise the way that smart contracts are used. By bringing smart contracts to bitcoin, Dark Fusion is making it possible to build secure, scalable and efficient decentralised applications on the world’s most secure blockchain.

“Our team is at the forefront of unlocking new dimensions in bitcoin utility. We are not just exploring uncharted territories – we’re creating them. Our innovative approach promises to revolutionise the way bitcoin is utilised, opening doors to possibilities previously deemed unimaginable,” says Greg van Der Spuy, CEO at Dark Fusion.

“With SCL, developers can build secure, scalable and efficient decentralised applications on bitcoin. Dark Fusion is changing the world of smart contracts, and we are excited to see what the future holds.”

As the Dark Fusion team progresses with its roadmap, it will provide an open-source opportunity for developers and builders to start creating with SCL and Dark Fusion technology. The new token standard and technology will be readily available to facilitate innovation on bitcoin and the Lightning Network.

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