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Date: Sun, 06 Mar 2022 20:11:12 +0000
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To: Chris Stewart <chris@suredbits.com>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>,
"dlc-dev@mailmanlists.org" <dlc-dev@mailmanlists.org>
Subject: Re: [bitcoin-dev] Recurring bitcoin/LN payments using DLCs
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Good morning Chris,
> >On the other hand, the above, where the oracle determines *when* the fun=
d can be spent, can also be implemented by a simple 2-of-3, and called an "=
escrow".
>
> I think something that is underappreciated by protocol developers is the =
fact that multisig requires interactiveness at settlement time. The multisi=
g escrow provider needs to know the exact details about the bitcoin transac=
tion and needs to issue a signature (gotta sign the outpoints, the fee, the=
payout addresses etc).
>
> With PTLCs that isn't the case, and thus gives a UX improvement for Alice=
& Bob that are using the escrow provider. The oracle (or escrow) just issu=
es attestations. Bob or Alice take those attestations and complete the adap=
tor signature. Instead of a bi-directional communication requirement (the o=
racle working with Bob or Alice to build the bitcoin tx) at settlement time=
there is only unidirectional communication required. Non-interactive settl=
ement is one of the big selling points of DLC style applications IMO.
>
> One of the unfortunate things about LN is the interactiveness requirement=
s are very high, which makes developing applications hard (especially mobil=
e applications). I don't think this solves lightning's problems, but it is =
a worthy goal to reduce interactiveness requirements with new bitcoin appli=
cations to give better UX.
Good point.
I should note that 2-of-3 contracts are *not* transportable over LN, but PT=
LCs *are* transportable.
So the idea still has merit for LN, as a replacement for 2-fo-3 escrows.
Regards,
ZmnSCPxj
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