Published on: 2020-04-28T08:22:46+00:00
A PTLC-based proposal has been introduced for the Lightning Network, with the aim of improving its safety and stability. This proposal suggests making several changes to existing nodes in order to implement PTLC-based lightning channels. However, it is important to note that these changes, including modifications to the core channel state machine, HTLC scripts, on-chain HTLC handling and resolution, path finding algorithms, invoice changes, and onion blob processing, may take longer than expected to implement.The article also discusses the challenges associated with deploying Discreet Log Contracts (DLCs). One obstacle has been bootstrapping the oracles, but Coinbase's new price oracle for the ETH ecosystem could simplify this process and enable various possibilities for DLC-specific channels and contracts. Another solution proposed is the Defiads project, which allows an oracle service to advertise itself on defiads using a timelocked fidelity bond.Equivocation protection in DLCs is achieved by forcing the revelation of a scalar behind a point. However, the article points out that oracles can still lie without equivocating between different segments of their users, which poses a challenge in achieving trustless deployment.Despite the challenges and significant changes required, the Lightning Network community is encouraged to explore the use of PTLCs due to their advantages, such as improved privacy and a range of interesting applications. Further development and experimentation with PTLCs are encouraged in order to create a safer and more stable Lightning Network. The community is also called upon to collaborate and share ideas to prototype and test PTLC-based proposals, with the goal of achieving a PTLC-based network that is safe and stable. Additionally, it is emphasized that continued thinking and development with PTLCs is important to achieve an ideal Lightning Network when Taproot is available.
Updated on: 2023-07-31T22:53:20.198487+00:00