SETL is a programming language and a transactional settlement system that was developed in the early 1980s. The name SETL itself stands for "SET Language," where "SET" originally referred to "set theory," which is a mathematical branch dealing with sets and their properties. SETL was created by Jack Schwartz and his team at the Courant Institute of Mathematical Sciences at New York University.
As a programming language, SETL incorporates a variety of features from different programming paradigms, including high-level set manipulation capabilities inspired by set theory. It allows for efficient manipulation and transformation of sets, lists, and other data structures. The language also supports various built-in functions for set operations, pattern matching, and string manipulations.
Beyond its programming language capabilities, SETL is also a transactional settlement system. This means that it provides a mechanism for securely exchanging assets or commodities between parties, ensuring fair and reliable settlements. The transactional aspect of SETL is particularly useful for financial purposes, where secure and efficient settlement of transactions is essential.
Overall, SETL combines the power of a programming language with a reliable transactional settlement system, making it a versatile tool for various purposes, including data manipulation, algorithm development, and financial settlement.
