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122 sats \ 1 reply \ @super_testnet 2 Feb 2023 \ on: 10101 - We just published our roadmap bitcoin
I'm not sure you guys realize this but you've created a way to run a federated lightning node. Lightning dlc payments don't happen without an oracle's say-so. The oracle functions as a transaction gateway: nothing comes in or goes out without his or her approval. It would be cool to see more tooling in this direction. What if node operators could set up and control a suite of one or more oracles who have to sign off on transactions out of their node? They could create setups like ensuring they get 2/4 approval for payments over $200, 3/4 approval for payments over $1000, and 4/4 approval for payments over $5000. Companies would probably like that a lot. But individuals could also use it for 2 factor authentication by running the "main app" on their desktop and an oracle on their phone that needs to approve transactions over a certain amount.
Thanks @super_testnet for the response.
We always see the oracle as a judge of last resort, i.e. if two parties engage in a trade and open a DLC then they can always settle the DLC collaboratively. Only if the parties do not agree they take the oracle's signature and go on-chain to get their funds.
The core idea behind these oracles is that they are not even aware that they are involved in a DLC.
That being said, a DLC can always be settled without the oracle say-so.
What you are describing I would not call an oracle anymore as it is actively involved in the transaction creation.
It is nevertheless an interesting idea, I'd consider a setup like this for my kids: i.e. if they want to spend more than X they have to at least get a second signature from their mum or dad 😅
The same solution can obviously also be used as a 2FA as you describe, i.e. you have one key on your phone and on on desktop and you need both devices to confirm tx over a specific amount.
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