Thursday, April 5, 2018

Escrow nets getting close and closer

Paralysis Proofs: How to Prevent Your Bitcoin From Vanishing

We are seeing here a proof that counterparties are still active, Counter parties have to spend a little do-re-me on a timed out interval.  This is an opposite of the simple swap on timeout where each party has a time interval to reverse the swap, and the reversal is observable by the other party.

This example uses Intel secure SGX to make part of the protocol protected, so this is a hybrid between sweb and cache swaps. The cache hardware swaps can be called proof of fastest path, the instruction cache can guarantee the execution of a few instruction before any party can reverse.

Aside from the theory, my original point  is that we are close to deploying more general purpose escrow nets, generic interledger waps, execution across trading pits  and contracts with notary support.

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