DLCs, involving a 2/2 multisig funding and Contract Execution Transactions (CETs), offer more privacy but are more complex to set up. They require oracles to sign possible outcomes without revealing contract specifics. Time-locked Taproot scripts, on the other hand, provide a more transparent approach, embedding conditions directly within Bitcoin's script and possibly incorporating an oracle if needed. While DLCs might be the choice for those prioritizing privacy and scalability, a Taproot-based approach might be easier for those looking for straightforward execution.