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We describe main ideas of DLC, therefore oracle, DLC, offers negotiation contract execution transaction, adaptor sigs.
48 lines
1.5 KiB
Markdown
48 lines
1.5 KiB
Markdown
# Introduction and Index
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These standards documents describe a framework for onchain/off-chain stateful
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bitcoin contracts, relying on real-world obversations from third-party, without
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leaking knowledge of usage. Bitcoin contracts are cooperatively built and signed
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by every party involved.
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## The Bet: A Short Introduction to Discreet Log Contracts
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Discreet Log Contracts is a set of formats to get data external to the bitcoin
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system into the contract.
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### Oracle
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An oracle is an entity signing messages in reaction to real-world events. Before
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event occurence they commit a public key on any publication space and the set of
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messages mapping to event properties. At occurence they release a signed message
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corresponding to the specific instance of the event.
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Currently, this protocol version doesn't support any mitigations against oracle
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equivocation, beyond confidentiality of oracle message usage by parties.
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### DLC contract
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A description of a set of potential oracles messages mapped to bitcoin balances,
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negotiated by parties. Among all potential balances, only one can be finalized.
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In case of lazy oracle, parties may abort contract and refund their contributions.
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In case of cheating counter-party, i.e broadcasting a state for which oracle
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scalar isn't known, the honest protocol participant can claims all the balance.
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### Contract Execution Transaction
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XXX
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### Offers negotiation
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XXX
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## Glossary and Terminology Guide
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XXX: set of transactions
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XXX: peers
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XXX: oracles
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XXX: oracles signatures
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