In the simple swap, my notary watches a ledger input queue for the counter party revoke. My notary responds to revoke with a corresponding revoke having high transaction fee as needed to make the double revoke a loser.
A kind of ad hoc distributed router.
We expect to pull the double revoke when some sudden price change makes the double revoke the lesser of two evils. A mass revoke on some ledger, however, is a bank run, not all revokes will get through.
Given that simple web swaps across ledgers will be quite wide spread, we get interesting dynamic. The swap notary will be standard function of a web wallet. Ab exchange with multi-currency wallet service would offer standard secure swap notary. Traders making deals 'out of band' then triggering the swap notary function of their web wallet.
No comments:
Post a Comment