Sunday, March 5, 2017

Timeouts in the sandbox

They exist for the same reason they exist in handshaking protocols.  Both sides have to assume the possibility of hardware (or impossible queuing) failure.  So, the expected response was timed, and both sides had equal clock ticks.  Thus both sides know when the timeout occurred and thus to step back to the previous protocol state.  The sand box doe this.

But the bots are autonomous, except for their governing encrypted toke, it is verifiable.  Trading pits, two colored, or priced ledger services, one color; al have robotic traders, even if is barely morethan null, t is still subject to timeout.  Trading bots are designed with a finite trade count, then they look for another thumbprint, or time out.  The stable state for a timeout bot is to leave the money on the even bet, which must be defined at the sites.

The exchange reports the timeout to the appropriate verification service, using the trading token as a reference. Smart wallets check the services, now and then. They are like credit services, tell he end points if a bot has timeouted, gone belly up, is on the run from he cops, has send a delivery o a thumbprint, has expired, is suspected of forgery or double spending. Plus the service returns any parameters stored in he token.

As an aside, here is no jamming at all in the sandbox, the only failure is hardware.  A transaction is priced through the network by its bot. Congestion management does not jam, it allows bankrupt drop outs.

A bit about token services

The sanbox assumes a variety of independent tokenization schemes, there is am selection layer, let's the transaction setidentifythe special token method. Overlap because a lot of special services, at a fee, can be had.  Fedwire and swift therefore fit right in, they ust needd to specify atokenization method.
 this mix the swift or fedwire handler is easily identified by
Thje question pops up, are transaction messages encryptedon the wire? If so, then the token need not be so well encrypted, and special bank identifiers can be used, as long as point to point encryption is part of the protocol.  But, we are not throwing away Fedwire or Swift; I expect those to be well serviced.   Any exchange can accept the triplet <token,coin with value,ID and opcodes), bot>, in this set the Fedwire or Swift each have a token service dientified in the tolen field, the exchanges can use these tokens to retrieve the additional end points. Then identify the fedwire exchange bot, for example.  It is a python snippet, written by the Fed guy, works every time, executes the swap.

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