Why can't Bitcoin do smart contracts?

asked by
2020.05.28 6:38

Ethereum can do smart contracts, and now Binance has Binance Smart Chain, why isn’t there something to allow Bitcoin to do smart contracts?

Bitcoin is the most used cryptocurrency, so it makes sense for Bitcoin to have smart contracts to increase the use cases.


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2020.05.28 8:26

It can! Many would consider multisignature, Hashed Timelock Contracts (HTLCs) and some other kinds of transactions to be “smart contracts.”
Granted, however, there’s a lot you can’t do on Bitcoin, especially when you compare it to something like Ethereum.
That’s by design, for the most part. Bitcoin doesn’t aim to be a flexible smart contracts platform. The analogy often used is that, if Ethereum is a smartphone (capable of running thousands of apps), Bitcoin is a calculator.
Bitcoin does one thing (serves as money), but it does so reliably and very well. Because its architecture is so basic, there are less attack surfaces. And for a network managing billions and billions of dollars’ worth of value, that makes a lot of sense.