DLC.Link: Discreet Log Contracts on Stacks

Unlocking the Power of DeFi on the Bitcoin Blockchain

One of the great criticisms that Bitcoin has suffered since its inception has been the impossibility of hosting smart contracts to generate a wide variety of use cases, especially in decentralized finance (DeFi), as has happened with its peer Ethereum.

However, this reality is about to change. An initiative promoted by Tadge Dryja and Gert-Jaap Glasbergen introduced at the L2 Summit in Boston in May 2018 based on Discreet Log Contracts (DLC) technology demonstrated that it is possible to incorporate DeFi properties native to Bitcoin.

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To accomplish this, DLC.LINK is a crypto startup that is focused on making possible the use of DLC on Stacks to activate the DeFi potential on Bitcoin, a trillion-dollar opportunity as Chainlink has demonstrated in the following slide:

TL;DR

• DLC.LINK is a crypto startup that is focused on making possible the use of DLC on Stacks to activate the DeFi potential on Bitcoin

• A Discreet Log Contract is a form of Bitcoin transaction that uses an oracle to execute a smart contract

• DLC allows two parties to place bets using the Bitcoin blockchain in a multi-sig scheme based on Schnorr signatures

• The platform aims to build DLC implementations using Bitcoin on Stacks and eventually on EVM-compatible blockchains.

But what are DLCs?

A Discreet Log Contract is a form of Bitcoin transaction that uses an oracle to execute a smart contract. The DLCs seek to connect the Bitcoin blockchain with the world outside of the blockchain, establishing communication points that bring real-world information into its network.