Consider all the contracts definable by the ethereum system is the complete set.
A subset of that are the low complexity escrow instructions, and they need only a subset of the Solidify hooks. These low complexity protocols have proven completion, so they can delete themselves from the blockchain and a finite blockchain.
So, decomposing each of the finite semantic graphs representing the typical escrow instructions, each link becomes a cash transaction, each node conditional on an external trade, external signature, or external ledger service.
This leads to an application level interface defining the components of an exchange, which is modelled as the activation of a remote bot, with power of attorney.
The application level format has exactly the fields needed to obey all the boundary rules of the sandbox; a verifiability token, coin value and ID, remote bot identifier, any bearer security, etc.
Security of the system is based on a known and verified escrow machine, and its is tested on an ongoing basis. Basically, it is equivalent to verifying your internet router always obeys the IPO reference standard.
The whole system is simply the most obvious and simple of the Eth applications, except there is no need for a native coin. The instructions itself can check the fintie blockchain on an ongoing basis. And, all protocols are guaranteed to resolve to known, and fair states. Protocols self delete.
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