This is an opinion editorial by Daniel Hinton, the head of finance and operations for sFOX, a bitcoin prime broker and custodian, and Steve Jeffress, creator of Bitcoin UTXO set visualizer UTXO.live.
We now know how to infer the daily price of bitcoin within 1% by looking only at the unspent transaction output (UTXO) set.
With this, we can build decentralized applications that rely on the UTXO set — rather than on trusted third-party oracles — for the USD price used in discreet log contracts (DLCs) and smart contracts.
The possibilities for decentralized applications on Bitcoin using this “UTXOracle” are enormous.
Source: author
When You Want To Know ‘The’ Price Of Bitcoin, Where Do You Look?
There is no single price of bitcoin. Every second of the day, there are thousands of exchanges, brokers, OTC desks, payment companies and other market participants around the world quoting the price of bitcoin — and none of them is always correct.
In this article, we will exp
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