David A. Harding on Nostr: FWIW, DLCs for multivariate contract types (e.g., price on 2025-01-01 will be {1, 2, ...
FWIW, DLCs for multivariate contract types (e.g., price on 2025-01-01 will be {1, 2, ..., 100_000, ..., 999_999, 1_000_000}) work by presigning large numbers of transaction variants, only one of which will become a valid transaction when the oracle commits to the actual value.
To me, this seems very similar to the functionality for presigned transaction trees for currently deployable small group covenants (e.g. presigned vaults for individual users).
The comparison is less apt for large group covenants where one of the advantages to consensus changes is removal of the coordination problem where getting hundreds or thousands of people to all cosign the same transaction tree is prone to repeated accidental or deliberate failure. E.g., look at the high failure rate of large coinjoin attempts, and those top out at 1,000 users and one cosigned transaction.
To me, this seems very similar to the functionality for presigned transaction trees for currently deployable small group covenants (e.g. presigned vaults for individual users).
The comparison is less apt for large group covenants where one of the advantages to consensus changes is removal of the coordination problem where getting hundreds or thousands of people to all cosign the same transaction tree is prone to repeated accidental or deliberate failure. E.g., look at the high failure rate of large coinjoin attempts, and those top out at 1,000 users and one cosigned transaction.