By Bitcoin Revista - fa 3 mesos - Temps de lectura: 5 minuts
Actualitzacions de LN Markets Bitcoin Comerç amb DLC
Bitcoin is fixing money.
Gràcies a Bitcoin, anyone in the world is free to transfer money over a peer-to-peer network without having to go through a financial institution. Money that cannot be censored by authorities, devalued by governments, monopolized by corporations, or stopped by borders.
Tanmateix, quan es tracta de negociar, seguir sent necessari passar per un tercer de confiança. Per què és un problema? Perquè tercers de confiança sempre han estat, i continuen sent, forats de seguretat.
Bitcoin Trading Is Broken
Individuals and financial institutions alike rely on trusted third parties such as clearinghouses and exchanges to clear their Bitcoin spot and derivatives transactions.
“Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.” - Satoshi Nakamoto, 2 Nov 2009
Sona familiar? Sí, això és exactament el que va passar durant l'esdeveniment de contagi del 2022 on es van col·lapsar Celsius, Terra, Three Arrows Capital, BlockFi, Voyager, FTX i molts més. La majoria de les vegades, els usuaris finals, que confiaven en aquests tercers, ho van perdre tot.
Els intercanvis centralitzats són inherentment insegurs perquè els fons es poden agrupar sense cap supervisió. El comerç i la custòdia no s'han de barrejar mai, mai.
Looking at the above list of bankruptcies, one may feel helpless and declare Bitcoin trading a no go. Instead, we took a second look and wondered: does Bitcoin trading really need to take place in the books of a trusted third party? Certainly not. And Bitcoin itself provides the solution!
Bitcoin is a complex and dynamic system that has not yet found its equilibrium, and no one can predict the ultimate role it will play. Defining Bitcoin is challenging because it intersects multiple domains. Some view it as a financial asset, others as a currency, a network, or even as an ideological manifesto.
As developers of innovative trading solutions, we are particularly interested in one dimension: Bitcoin as a technical infrastructure. This technical dimension is the least visible, probably due to its relative complexity, yet we find it one of the most fascinating aspects of this Unidentified Financial Object (UFO).
And we firmly believe that Bitcoin the protocol provides the ideal building blocks for the development of sound financial services.
Building The Future Of Trading On Bitcoin
Bitcoin's code consists of operations that, when assembled, form a script. This list of available elementary operations evolved over time, with the addition of new operations to enable more complex scripts. These evolutions are often slow, but this gradual pace helps preserve the stability and security of the protocol.
El guió més senzill, per descomptat, és la transferència entre iguals d'una unitat de valor. Les primeres plataformes de comerç es van construir integrant aquesta funcionalitat: es va fer possible transferir fons directament des d'una cartera a una plataforma per al seu processament.
The Lightning Network is an application built from a more complex script. It allows for the risk-free and instantaneous transfer of BTC. LN Mercats was the first trading platform to integrate this new protocol into its core development.
Orientada al mercat minorista, la seva proposta de valor és una simplificació extrema de l'experiència comercial: només triga uns segons perquè un usuari gestioni tot, des de la creació del compte fins a la transferència de garantia, tot fet a l'instant des d'una cartera Lightning. La proposta de valor del comerç instantani va suposar un volum de negociació acumulat de més de 2 milions de dòlars.
Building on this success, it was only natural for us to turn our attention to Discreet Log Contracts. A DLC is a native “smart contract” built on Bitcoin which enables the delivery of a payoff depending only on the publication of a price by an oracle.
Avui creiem que és hora de basar-se en el protocol DLC per permetre el comerç sense confiança i posar fi a l'agrupació de fons per part de tercers de confiança.
Trust Minimized Trading On Bitcoin Is Now A Reality
Over the past few months, we have been building in stealth mode a trustless OTC derivatives trading platform designed to meet the needs of crypto financial institutions: Mercats DLC.
Any kind of financial instrument can be traded on Mercats DLC with almost no counterparty risk: Bitcoin futures and options, products on hashrate and blockspace, and potentially any asset in the world.
Traditionally, trading for institutions has always been centralized and standardized. At some point, a clearinghouse (CCP) takes control of the funds and manages settlement. Paradoxically, despite technological advancements, Bitcoin trading is much riskier than traditional trading: no regulation, trading and custody in the same place, conflicts of interest, numerous risks, and frequent bankruptcies.
Mercats DLC aims to address these issues. Drawing inspiration from traditional OTC trading, we are developing a marketplace where participants can meet and transact. Similar to an ISDA/CSA agreement, collateral is exchanged directly between peers.
Per gestionar la liquidació, un contracte intel·ligent (DLC) actua com a CCP. Aquest contracte intel·ligent és únic per a cada transacció, assegurant una gestió segregada de fons, una transparència total per als participants de la transacció i la confidencialitat dels actors externs.
Market participants can chat and submit bilateral requests for quotes (RFQ) to each other. Upon mutual agreement for a trade, they confirm the trades parameters and submit the initial margin to a smart contract on the Bitcoin blockchain. Throughout the life of the trade, margin calls, liquidation, and settlement may take place and unlock the corresponding outcome in the smart contract. The computation of any settlement is contingent solely on the publication of an independent oracle.
L'oracle és un tercer de confiança per verificar certs esdeveniments amb precisió. A diferència d'un depòsit en garantia, l'oracle no té l'encàrrec d'interpretar o executar el contracte. No cal l'aprovació explícita de l'oracle per establir o resoldre unilateralment el contracte. L'únic requisit és l'ús de les dades publicades periòdicament per l'oracle, que estan disponibles gratuïtament i es poden compartir.
Tot i que els DLC tradicionals poden ser complicats d'implementar, introduïm un enfocament nou amb un coordinador per resoldre el dilema de l'opció lliure quan s'inicia el DLC. Aquest enfocament també permet integrar les trucades de marge, la liquidació i la compensació en el procés de DLC.
Diagrama de flux temporal dels passos de la trucada de marge i del període cobert per a DLC amb el format de transaccions més esperat
For a technical deep dive on our solution, check our paper blanc.
El futur és ara
Mercats DLC represents a paradigm shift, offering a trustless and secure alternative to the centralized exchanges that have long dominated the financial sector. You can already contractar to try out our Beta!
Per accelerar Bitcoin as an infrastructure, we have completed the raise of a $3 million seed round led by capital de mort de l'ego, conjuntament amb Lemniscap i Cadena del temps, joining our current investors Arcario, Bitfinex i Fulgur Ventures. We’re very excited to partner with investors who share our belief that bitcoin-native companies will change the world.
Benvingut a una nova era de transparència, eficiència i resiliència en el comerç de derivats.
Més informació: https://lnmarkets.com/ & https://dlcmarkets.com/
This is a guest post by LN Markets. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Revista.
Font original: Bitcoin Magazine