By Landon Manning Discreet Log Contracts (DLCs), a wide-reachi
By Landon Manning
Discreet Log Contracts (DLCs), a wide-reaching application of blockchain technology, has seen its first incorporation onto the main Bitcoin blockchain, opening the gateway for Bitcoin users to access this technology without relying on any other chains or third-party applications.
Since Bitcoin was the first major blockchain-based cryptocurrency to appear and have an organic, decentralized community work to grow and maintain it, there are some applications of blockchain technology that are more cumbersome and impractical to use with Bitcoin’s own underlying infrastructure. Other, newer and more nimble blockchains, such as Ethereum, were designed from the beginning to facilitate smart contracts more easily than Bitcoin. However, various developers have been working on DLCs for several years, seeking a way for these types of transactions to occur organically on the Bitcoin blockchain with no other chains required.
The key to understanding this whole field of DLCs is that most of it stems from the use of…