Subject: [bitcoin-dev] [Annoucement] Discreet Log Contract Protocol Specification

From: Chris Stewart <[email-masked]>
Date: Mon, 13 Jan 2020 06:27:34 -0600

Hi all,

Suredbits and Crypto Garage have begun to work on a specification for
using discreet
log contracts <https://adiabat.github.io/dlc.pdf> 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