via Suredbits

Yesterday, the team from Suredbits announced the release of a proof of concept for Point-Time-Locked-Contracts (PTLCs) that is available to Eclair users. For those of you freaks who are unfamiliar with PTLCs, I recommend you peep this episode of TFTC I recorded earlier this year with Chris Stewart and Nadav Kohen from Suredbits.

In short, PTLCs are potential replacements for the Hash-Time-Locked-Contracts that are used to create Lightning Network Channels at the moment. Using PTLCs instead of HTLCs should significantly help with routing efficiency and privacy on the Lightning Network. The implementation of PTLCs will be made significantly easier once Schnorr signatures have been activated in Bitcoin Core.

However, for the time being, the Suredbits team has built a PTLC proof of concept that is enabled by ECDSA Adapter Signatures and available to Lightning Network users running Eclair nodes. If you're interested, willing and able to mess around with it, I highly recommend you go for it.

Slowly but surely under appreciated but vital technology is coming to market to help Bitcoin scale, make it more efficient, and provide its users with better privacy assurances. Shoutout to the Suredbits team for continually putting out some of the most cutting edge software that enables exciting and, more importantly, useful applications that are unique to Bitcoin.

Final thought...

Big fan of falling asleep on the deck while looking at the stars.