TD₿: Discreet Log Contracts (Parts 1-4) by Nadav Kohen
TL;DR DLCs could bring a private smart contracting layer to Bitcoin that opens the door to all kinds of use cases and functionality.
Hey Bitcoiners,
I’m always on the lookout for new exciting innovation that is occurring in the Bitcoin development space.
One such area that has caught my attention is the work being done with Discreet Log Contracts (DLCs) to improve smart contract functionality on Bitcoin.
In the original DLC white paper, the author Thaddeus Dryja explained DLCs as,
“Discreet Log Contracts are a system which addresses the scalability and privacy concerns and seeks to minimize the trust required in the oracle which provides external data.”
We’re still in the early days of DLCs, but if they deliver on their promise, the use cases and implications for this innovation built on Bitcoin are far-reaching and exciting to consider.
SuredBits’s Nadav Kohen wrote a 4-part series of blog posts that serves as a great introduction to the subject (09/05/2019).
The potential of private smart contracts built on Bitcoin without causing on-chain congestion has me super bullish this morning.
Tick tock next block,
Cory Klippsten
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