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BasicSequence.md

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Sequence

This document is the basic sequence.

Assumptions

  • Alice and Bob are already matched.
  • Alice and Bob have a means of communication.

Contract

+-------+                      +-------+
|       |                      |       |
|       |--(1)--- offer  ----->|       |
|       |                      |       |
|       |<-(2)--- accept ------|       |
| Alice |                      |  Bob  |
|       |--(3)--- sign   ----->|       |
|       |                      |       |
|       |                      |  (4) send fund-tx
|       |                      |       |
+-------+                      +-------+

(1) Offer

Alice send data to Bob.

1. Contract information

This parameter is information that allows Alict and Bob to decide how to become from the Fund by Oracle message.

Example.

  • product
  • product amount
  • time
  • etc...

2. Oracle information

This parameter is information that Oracle can identify.

3. Alice fund amount (satoshi)

This parameter is Alice's fund amount (including payment transaction fee).

4. Alice public key

This public key is used for fund-tx(2-of-2 multisig).

5. Alice inputs

Alice's input used for fund-tx.

6. Alice output(option)

If Alice's change is necessary, it is the address.

7. Estimatesmartfee (satoshi/kbyte)

This parameter is used for fund transactions and settlement transactions.

8. Delay (option)

It does not make much sense in DLC, 144 fixed may be good.

9. Refund locktime

This is refund transaction locktime.

(2) Accept

If Bob is good at that condition, Bob send data to Alice.

1. Bob fund amount (satoshi)

This parameter is Bob's fund amount (including payment transaction fee).

2. Bob public key

This public key is used for fund-tx(2-of-2 multisig).

3. Bob inputs

Bob's input used for fund-tx.

4. Bob output(option)

If Bob's change is necessary, it is the address.

5. Settlement signs

This is all settlement transaction Bob's signatures.

6. Refund Sign

This is refund transaction Bob's signature.

(2)' Refuse

If Bob is not good at that condition, Bob send data to Alice.

1. Message

(3) Sign

Alice validates the (2) data.

If check is ok, Alice two data to Bob.

1. Fund transaction signs

This is fund transaction Alice's signatures.

2. Settlement signs

This is all settlement transaction Alice's signatures.

3. Refund sign

This is refund transaction Alice's signature.

(4) Send fund-tx

Bob validates the (3) data.

If check is ok, Bob signs fund-tx.

Bob sends fund-tx to Bitcoin.

When fund-tx enters the block, the contract is completion.