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A gentle introduction to Discreet Log Contracts (DLCs) on Bitcoin

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dlc-intro

A gentle introduction to Discreet Log Contracts (DLCs) on Bitcoin

What is a DLC?

DLCs offer a way to implement financial smart contracts on Bitcoin and what is more I believe they could also be used directly between peers on Lightning.

The technical part was presented in a talk on the second Bitcoin Ljubljana meetup 16.9.2021 but since then this has already evolved a bit and with your help it will continue to become more comprehensible.

Outline

First we need go through some Eliptic Curve Cryptography Basics. Then we tackle Schnorr Signature Scheme and finally explain Discreet Log Contracts.

You might want to check out the FAQ as well.

There is also a silly explanation using analogies A story about betting and self-driving robots

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