Chainside Launches Segwit-Compliant Python 3 Bitcoin Library ‘BTCpy’

This week the bitcoin software startup Chainside released a new Python 3 Segwit-compliant Bitcoin library called “BTCpy.” The company hopes the new codebase will further blockchain development and that businesses can integrate Bitcoin software with ease.

Also read: Bitcoin Is Becoming a Popular Investment for Middle-Class Americans

Introducing BTCpy – a New Python 3 Segwit Compliant Bitcoin Library

Chainside is blockchain protocol company that specializes in bitcoin development for businesses looking to integrate the digital currency into their daily operations. On September 3 the startup launched BTCpy which aims to provide a “simple interface to parse and create complex Bitcoin scripts.”   

“Differently from other existent Bitcoin libraries, BTCpy is able to recognise and create arbitrary scripts in a simple fashion, something particularly important to develop Layer 2 applications, where complex smart contracts with time-locks, hash-locks and if-else clauses are needed,” explains Chainside’s CTO Simone Bronzini.

The BTCpy codebase developed by Chainside using Python 3.

‘Tools Like BTCpy to Abstract Complexity Are Needed’

Bronzini says that during the scaling debate some proponents prefer to keep Bitcoin software simple but solutions like Segwit and Lightning Network can be complicated processes. “We believe that for the long term success of Bitcoin the best technical solution is always preferable, but tools like BTCpy to abstract its complexity are needed,” Bronzini’s announcement details.

Further the startup says while others keep libraries like this private for company use only Chainside felt the best thing to do was to release the codebase to the open source community. The codebase and protocol instructions can be found here on Github and the software is in its very early stages. Presently it is highly discouraged to use it in a production environment explains Chainside.

Chainside still has to add support for Segwit addresses (BIP173), deploy caching to segwit digest computation to avoid quadratic hashing, and many other improvements mentioned in the team’s roadmap.

What do you think about BTCpy? Do you think libraries like this one is helpful for development? Let us know in the comments below.

Images via Shutterstock, and Chainside.

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