Hi all,

Suredbits and Crypto Garage have begun to work on a specification for using discreet log contracts in a safe, private and interoperable way. We are writing to the mailing list to inform and solicit feedback for the protocol specification so that we can -- as a community -- agree on a common standard to use Bitcoin oracles. 

Our goal is to end up with a set of documents like the BIPs (Bitcoin Improvement Proposals) and BOLTs (Basis of Lightning Technology) so that others that wish to use the technology can easily write software to integrate into the protocol.

A secondary goal of ours is to remain compatible with standards used by other bitcoin related protocols (like Lightning) so that every future bitcoin related protocol can reach for a “toolbox” of agreed standards for things like funding transactions and closing transactions. We want to avoid reinventing the wheel where possible and allow for library developers to re-use software to hook into many bitcoin related protocols. 

You can find the specification repository here: 

https://github.com/discreetlogcontracts/dlcspecs/

For more information on DLCs: 

[1] - https://adiabat.github.io/dlc.pdf 

[2] - https://cryptogarage.co.jp/p2pd/

[3] - https://suredbits.com/discreet-log-contracts-part-1-what-is-a-discreet-log-contract/

[4] - https://blockstream.com/2019/04/19/en-transacting-bitcoin-based-p2p-derivatives/

[5] - https://dci.mit.edu/smart-contracts

-Chris