Conditional payments on “Bitcoin” using Discreet Log Contracts
▻https://hackernoon.com/conditional-payments-on-bitcoin-using-discreet-log-contracts-eed19e086e3
Conditional Payments on #bitcoin using Discreet Log ContractsDiscreet log contract is a conditional payment mechanism invented by Tadge Dryja, co-author of the Bitcoin Lightning Network paper and a member of MIT’s Digital Currency Initiative team. The paper was written in 2017.OverviewCurrently conditional payments on blockchains like Bitcoin and Ethereum are done through “smart contracts” where the conditions are coded in limiting language like Bitcoin’s Script or a turing complete language like Solidity and this code is deployed on chain. The chain will later execute this code along with other inputs provided and then transfer the funds to one of the participants. This requires the chain to know the conditions, hence anyone in the world can learn the conditions. Also the chain has to (...)