“Turing-Complete” is a concept that originates from the realm of computation theory. In the simplest terms, a system is considered Turing-Complete if it can simulate a Turing Machine – a mathematical model of computation that can solve any problem that a real computer can, given enough time and resources. In other words, a Turing-Complete system can perform any calculation if it can be given enough time and memory.
When you hear the term “Turing-Complete” in the context of crypto, it usually refers to the scripting languages used by some blockchains. This means these blockchains can process any kind of computational problem, as they offer the same capabilities as a universal Turing Machine.
For example, Ethereum, one of the most popular blockchain platforms, is Turing-Complete. Its native programming language, Solidity, allows for the creation of complex smart contracts that can execute any conceivable computational task (provided there are enough resources). This is different from Bitcoin, which uses a non-Turing complete language (Bitcoin Script) that is purposely limited for security reasons.
However, it’s important to note that being Turing-Complete in the world of crypto comes with its own set of challenges. Since a Turing-Complete blockchain can process complex contracts, it also potentially opens up the network to risks, like bugs in smart contracts and resource draining loops. There are also scalability issues to consider, as executing complex contracts requires a lot of computational resources.
As a result, different blockchains make different trade-offs between computational capabilities and security, scalability, and efficiency.