For over a decade, the world has been led to believe that Bitcoin isn\u2019t\u00a0Turing complete<\/a>\u00a0and can\u2019t support smart contracts. However, Satoshi\u2019s vision has been restored in Bitcoin and smart contracts are now a common feature in many BSV applications. sCrypt CEO Xiaohui Liu is one of the key people pushing for growth in smart contracts on BSV, and as he told\u00a0CoinGeek TV<\/a>, the time has come for Bitcoin to reclaim supremacy over smart contracts.<\/p>\n sCrypt is a high-level smart contract language for Bitcoin SV. While it\u2019s technically possible to write smart contracts in Bitcoin\u2019s native Script language, it\u2019s cumbersome and error-prone. sCrypt allows developers to write and deploy smart contracts on Bitcoin easily.<\/p>\n Satoshi created Bitcoin to be more than just\u00a0peer-to-peer electronic cash<\/a>, and smart contracts are critical to this vision. As Liu told CoinGeek TV host Patrick Thompson, this facilitates complex transactions on Bitcoin, making it programmable money. It takes out the need for trust in the system and allows users to use Bitcoin as a base layer for activities that span beyond finance.<\/p>\n Already, several leading projects are using sCrypt, from Fabriik\u2019s token protocol, the\u00a0Simple Fabriik Protocol<\/a>\u00a0to\u00a0decentralized exchange<\/a>\u00a0platform TokenSwap to Tokenized and DotWallet.<\/p>\n Smart contracts<\/a>\u00a0on Bitcoin are a game-changer. However, it\u2019s taken over a decade before they were fully utilized, leading to the rise of \u2018alternatives\u2019 like Ethereum<\/a> and Solana<\/a>, both of whom face their\u00a0own unique challenges<\/a>, from high fees to outages.<\/p>\n Liu believes that the reason Bitcoin smart contracts have taken so long to become a reality is because the BTC faction still lives under\u00a0the misguided notion<\/a>\u00a0that Bitcoin was created to be\u00a0a store of value<\/a>.<\/p>\n Liu was talking to CoinGeek TV on the sidelines of the\u00a0BSV Global Blockchain Convention<\/a> in Dubai, where he took the stage on Day 3 to\u00a0announce the launch<\/a>\u00a0of the\u00a0smart contract transpiler<\/a>, which allows developers to convert their Solidity code to sCrypt.<\/p>\n While Ethereum is nowhere even close to the capabilities of Bitcoin SV on scaling, fees, and speed, it benefits from the network effect since it started years before BSV. With the transpiler, Liu believes Bitcoin SV can finally offer\u00a0an easy way<\/a>\u00a0for developers to port their applications over to the only blockchain network that\u00a0scales unbounded<\/a>\u00a0without having to rewrite their code.<\/p>\n Watch: The BSV Global Blockchain Convention presentation, Smart Contracts and Computation on BSV<\/p>\n New to Bitcoin? Check out CoinGeek\u2019s\u00a0<\/i><\/b>Bitcoin for Beginners<\/i><\/b><\/a>\u00a0section, the ultimate resource guide to learn more about Bitcoin\u2014as originally envisioned by Satoshi Nakamoto\u2014and blockchain.<\/i><\/b><\/p>\n<\/div>\n![\"Patrick](\"https:\/\/coingeek.com\/wp-content\/uploads\/2022\/07\/bitcoin-is-the-blockchain-network-for-smart-contracts-scrypts-xiaohui-liu-tells-coingeek-tv.jpg\")
<\/p>\n![\"Xiaohui](\"https:\/\/coingeek.com\/wp-content\/uploads\/2022\/07\/bitcoin-is-the-blockchain-network-for-smart-contracts-scrypts-xiaohui-liu-tells-coingeek-tv-2.jpg\")
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