Discreet Log Contracts with Ecash Notes

"I’d like to describe a way to use Chaumian Ecash to commit to a conditional payment using an Ecash mint as a blind but trusted intermediary," writes CONDUITION.

Discreet Log Contracts with Ecash Notes
Source: Clark Van Der Beken.
  • "Although Ticketed DLCs using Lightning would be much more secure against counterparty risk, Ecash DLCs seem much easier to implement, conceptually simpler, and thus less prone to bugs."
"Like any DLC, the protocol is contingent on an honest and reliable Oracle, but if one such oracle is present, the technique allows for a huge degree of flexibility, at an unprecedented scale. Small-scale micro-wagers could be conducted in seconds without touching the chain, and without the long lockup times needed in Lightning."
  • "I see this as a highly promising avenue to transform Ecash into a programmable conditional payments layer, without additional trust in the mint, at near-zero cost to privacy."
  • "DLC-supported Ecash mints could be used by customers of gambling sites, insurance services, futures markets, and many more services in a completely private and egalitarian fashion. The mint, meanwhile, would have completely plausible deniability regarding the subject of the DLCs it services, and could charge fees for its trouble."

Read the full blog post on Ecash DLCs here.

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