Litecoin Adds Support for Complex Smart Contracts
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The Litecoin network has incorporated a new technical alternative for executing complex smart contracts and automated escrow deposits. This is due to the release of version v0.27 of Bitcoin Computer, an independent software tool highlighted by the Litecoin Foundation on August 14. This technology is not an update to the Litecoin protocol, but rather a compatible external layer. Bitcoin Computer enables the creation of applications such as security vaults, conditional payments, digital markets, and on-chain games. The system operates as a metaprotocol, where the contract logic and complex calculations are executed off-chain on the user's computer using JavaScript, utilizing the Litecoin blockchain solely as a ledger. Unlike other solutions, Bitcoin Computer validates contracts by mathematically re-executing the code on the client side, avoiding network congestion and reducing transaction fees. A key addition in version v0.27 is Inner Computer, which allows the contract to read the state of the network in real-time, programming rules for fund release conditioned on specific events. Developers demonstrated its use with an on-chain chess game, where funds are automatically awarded to the winner after checkmate is verified. The software also includes improvements to the storage engine for processing transactions in parallel and the TBC777 standard for issuing tokens under programmable custody schemes.
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