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0 sats \ 5 replies \ @xz 29 Oct 2023
I don't get it.
I get the fundamentals but it sounds much like a 2/2 multisig.
Like a LN channel but with the added risk of third-party oracle. Questions..
Besides:
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Collateralizing a loan which generates yield (defi) or a bet that is decided by an oracle. Are there any other use cases? Do DLCs provide covenant infrastructure?
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Technically, how would an oracle source data for, for example, a coin flip? This is nothing programmatic? An oracle is basically a human that inputs heads or tails to fulfill a contract which is given to the winner, right?
After the oracle determines the result of the coin toss...
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5 sats \ 4 replies \ @Rsync25 OP 30 Oct 2023
Yes, is possible generate, but DLCs are early protocol and is necessary add more tools. Thee other use case are 2-of-2 with multisig between channels, open/close channels..
When you open channel using DLCs for X token, automatically is created a mini market with price about asset.
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0 sats \ 3 replies \ @xz 30 Oct 2023
I see. That's what I figured. I suppose Oracle's might be live market feeds that further down the line are plugged into BitVM and deliver outcomes.
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0 sats \ 2 replies \ @Rsync25 OP 30 Oct 2023
BitVM is possible have connections with DLCs, but is necessary this kind orcale stay mature and tested. We're still in early days.
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0 sats \ 1 reply \ @xz 30 Oct 2023
I think I get what you're saying. It's hard to imagine what this could all look like as time increases.
Thanks for your reply!
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0 sats \ 0 replies \ @Rsync25 OP 30 Oct 2023
You're welcome.Short term BitVM and DLC not happen while long term yes
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