Discreet Log Contracts

As work on DLCs continues, we have another demo to show you guys. This is an improvement on our original DLC wallet demo because it now has an integrated way to call upon our Suredbits APIs to be able to create DLCs based on the our oracle.

This demo shows DLC setup and execution between two parties, Alice and Bob, who wish to speculate on whether or not the BTC/USD price on Bitmex will go up (MOON) or down (CRASH) today. In this example, Alice believes the BTC/USD price will MOON and stakes 50,000 sats. Bob stakes 50,000 sats that it will CRASH. Whoever is right will win the 100,000 sats. Enabled by the end-to-end integration, they are are able to construct and execute the entire DLC within the wallet using the Suredbits API!

If you want to get hands dirty with DLCs and do one on testnet yourself, you will have to set up a Bitcoin-S node first. You can find instructions here. You will then need to follow the DLC execution instructions here. If you run into any issues, do feel free to join our slack and ask for help.

If you are interested in reviewing or contributing to the work-in-progress specification for DLCs, please see this repository. We welcome questions in the form of issues or open PRs if you see something that needs changing!

Join our Suredbits Slack community here.

Get in touch with us Suredbits

Get in touch with Ben

All of our API services, for both Cryptocurrency APIs as well as Sports APIs, are built using Lightning technology and the Lightning Network. All API services are live on Bitcoin’s mainnet. Our fully customizable data service allows customers to stream as much or as little data as they wish and pay using bitcoin.

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To learn more about how our Lightning APIs work please visit our API documentation or checkout our Websocket Playground to start exploring fully customized data feeds.

If you are a company or cryptocurrency exchange interested in learning more about how Lightning can help grow your business, contact us at [email protected].

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