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Antoine Riard fe23400bb4 [introduction] Add a introduction starter

We describe main ideas of DLC, therefore oracle, DLC, offers negotiation
contract execution transaction, adaptor sigs.

2020-06-04 16:37:19 +09:00

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Introduction and Index

These standards documents describe a framework for onchain/off-chain stateful bitcoin contracts, relying on real-world obversations from third-party, without leaking knowledge of usage. Bitcoin contracts are cooperatively built and signed by every party involved.

The Bet: A Short Introduction to Discreet Log Contracts

Discreet Log Contracts is a set of formats to get data external to the bitcoin system into the contract.

Oracle

An oracle is an entity signing messages in reaction to real-world events. Before event occurence they commit a public key on any publication space and the set of messages mapping to event properties. At occurence they release a signed message corresponding to the specific instance of the event.

Currently, this protocol version doesn't support any mitigations against oracle equivocation, beyond confidentiality of oracle message usage by parties.

DLC contract

A description of a set of potential oracles messages mapped to bitcoin balances, negotiated by parties. Among all potential balances, only one can be finalized.

In case of lazy oracle, parties may abort contract and refund their contributions.

In case of cheating counter-party, i.e broadcasting a state for which oracle scalar isn't known, the honest protocol participant can claims all the balance.

Contract Execution Transaction

XXX

Offers negotiation

XXX

Glossary and Terminology Guide

XXX: set of transactions XXX: peers XXX: oracles XXX: oracles signatures

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