/biz/ - Business & Finance

Link is a solution looking for a problem (that's already been solved without the need for your E-ponzi meme tokens)

https://medium.com/@gertjaap/discreet-log-contracts-invisible-smart-contracts-on-the-bitcoin-blockchain-cc8afbdbf0db

>Any situation where funds need to be divided based on an external future value can be enforced using Discreet Log Contract technology. Any value that an oracle can produce can be used in forming these kinds of contracts. For instance, you could create an insurance contract that automatically pays out a claim based on a value (weather data, flight delay data) that comes from an oracle. If an oracle would announce the country that won a world championship in any kind of sport, you could facilitate a simple betting contract based on it.

>Alice and Bob both commit funds to the log contract, but its appearance on the blockchain will be no different than an ordinary multi signature output. Therefore the contract is discrete in the sense that no external observer can learn its existence or details from the public ledger.

>Oracles are not aware of the contracts or people using its data, they independently publish their signed messages according to a preset schedule. These signatures are incorporated into the contract by Alice and Bob, without the oracle being aware of them using it.
Because the oracle is not aware of specific contracts using the data, it is not able to decide the outcome of a specific contract. This is an important difference from a situation where the oracle is the third party in a 2-of-3 multi signature setup.