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.
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