This is the third and last part of the series on how to bring DLCs to Lightning. Check out the first two blog posts if you haven't already.
In part 3, we are going to show you how 10101 is utilizing virtual channels to bring DLCs to Lightning.
In the first part of this series, we provided an overview of Lightning, Adaptor Signatures and DLCs. If you need a refresher, you can find it here.
In part 2, we will now delve into the approach of expanding the commitment transaction with a custom output. This was our first attempt at bringing DLCs to Lightning.
At 10101 we are working on extending the Lightning network to support DLCs, allowing Bitcoiners not only to pay and receive payments, but also to trade right from their channels.
In this series of blog posts, we will delve into how 10101 brings DLCs to the Lightning Network. The series will consist of three parts:
In a previous blogpost we talked about self-custodial settlement paths in 10101. In this blogpost we explore how the 10101 app will enable you to stay self-sovereign in your self-custodial trade setup.
Without a certain level of self-sovereignty, your self-custodial setup might not be as protective as you think. If you depend on a single service provider too much, then you might not be able to act in a worst case scenario.
At 10101, we are dedicated to developing a cutting-edge self-custodial synthetic stablecoin powered by Discreet Log Contracts (DLCs).
What sets our stablecoin apart is its complete absence of issuers and the eradication of counterparty risk.
In our previous blogpost we wrote about the motivation for self-custodial trading and when it matters. In this blogpost we explore how the self-custodial setup works and what happens when you click the button to close a position.
When you trade in 10101 there are three phases:
Discovery: Finding a trading partner through the 10101 orderbook
Execution: Opening the position by setting a P2P smart contract on Bitcoin
Settlement: Closing the position by resolving the contract
This is the first in a series of blogposts that explores self-custodial trading with 10101 - why and when self-custody really matters, and how it works.
Bitcoin is objectively the best ledger out there. But, as great as Bitcoin is at solving the problem of self-custodial ownership, when it comes to using your coins you depend on centralized platforms. On an exchange you deposit your funds giving up custody - you rely on the exchange to be honest and return your funds once you want to exit. What if there could be a financial system where nobody can lie of cheat?
With 10101 you never give up custody. The app empowers you to trade self-custodial, eliminating the need for a centralized custodian, and enabling autonomy. You stay in charge at all times: Your keys, your coins.
Welcome to the world of decentralized trading, where the power of self-sovereign Bitcoin finance is unleashed! At 10101, we are passionate about creating an economy that is free from central authority. Our mission is to empower individuals like you to take control of your own finances and make the most of the incredible opportunities that the crypto world has to offer.
We know that choosing the right platform for decentralized trading can be a challenge, but we are confident that 10101 is the only real solution. Why? Because 10101 will never ask you to hand over control of your funds! In this blog post, we dive into the segmented USPs of 10101. From our brand (in green) to our product (in blue) and our team (in purple), we have everything you need to succeed in the world of crypto trading. Join us on this exciting journey and discover for yourself why 10101 is the ultimate choice for decentralized trading!
