Tuesday, February 27, 2018

Web based pipeline control

It works, short routig rotocols always  resolve with timeout, each oarty hastime to rice the risk of fraud,, we get a futures market.

Sample protocol:

Deposit a bit of Eth to bearer cash (robotic control by the router)
Lell the bearer Eth for bearer cash ta dollars
Order a bottle of Jack Daniels

I have two or three ledgers, the Jack Daniels delivery ledger, the Eth ledger and a market trade. All the ledgers have to support time limited revokal os the last transaction. All parties agree to the market trade and it is assumed fair and auto traded with no need for reversal. Pits have a very hard time clawing back bets after price compression, hire an insurance notary.

So web based bearer cash routing is pried to safety. We can price that timeout into balanced, safe and secure protocols for routing; in the existing web, even ignoring the spectre bug issue.  But it is quite clear we are going to get a trusted linux context for pipeline control at the deeper level. The web based router is still compatible.

So we bet time?
Yes, I guess so. I was ambivalent, well adamant, we don't make bet terms in the S&L. But theory kept telling me that timeouts are needed, and working the issue, we will bet timeouts. iers working the ledgers will be dealing with a minority of roll back congestion.

A futures bet is a dare, a public dare.  Can I get other parties to mark my protocol, l then execute a recall, make money? Counterparties observe the bet, a protocol stack in the public wallet. They get the bet, it boils down, once again to congestion pricing on roll backs.  Miners control that, it becomes a congestion bet like everything else.

Consider  a simple banking bet. One party puts a large sum into the escrow router with recall on timeout.  Prequalified parties can go ahead and spend it in small amounts. The granting party orders partial recall when the coin expands market share, banker gaining purchase power on the margin.

So, yes, public wallet works as an escrow router, but it incurs recall congestion on all the ledger services. It will become the hedgers favorite tool, welcome to the sandbox.

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