Is it appropriate to say that Bitcoin has a digital machine in the identical approach as Ethereum does?
Quick reply: No
Lengthy reply:
The creation of a contract in Ethereum is a transaction through which its knowledge discipline incorporates the compiled bytecode. Transaction is included in a block after which bytecode is executed.
Why Ethereum wants VM is one thing Ethereum devs can reply higher, nevertheless in line with my understanding:
- Turing completeness (Issues: https://bitcoin.stackexchange.com/a/105931/)
- Parallelization of sensible contract execution (Doable with out EVM: https://medium.com/bit-matrix/how-does-bitmatrix-achieve-parallel-processing-in-a-utxo-model-6ef70141bd59)
A wise contract is not only the code written in solidity and deployed on chains that use VMs.
Sensible contract is any digital contract that minimizes belief. What can the sensible contract do? What’s the language used? Is it deployed utilizing EVM? All these are irrelevant to outline a code as sensible contract.
Sensible contracts are doable on Bitcoin however with restricted performance. There’s nothing like EVM in Bitcoin AFAIK. Nonetheless lot of issues are doable utilizing layer 2 (LN and Sidechains) and scripting goes to enhance with Taproot.
Associated questions:
Bitcoin and Sensible Contracts
Can sensible contracts be arrange on a aspect chain or 2nd layer resolution?
Is there a software like Ethereum EVM at current for Bitcoin script?