My previous post, inverting the blockchain so that it records double payments only, and each miner keeps the unordered set of transactions which is thinned by empty accounts.
Consider the blockchain as a side chain of bitcoin. I transfer some bitcoin, with revoke enabled, to a hot account on the inverted chain. Now I, and other agents, do the same and trade with this new inverted blockchain, we live protected from double spending but pay an insurance fee. We exit the system at par, empty the account and are cleared.
The inverted ledger is ideal to hang off the escrow net, it is a fast, responsive ledger system for a series of finite sequential trades.
The escrow network will occasionally reverse trades and cause double spends. This is especially true in swap net, the distributed web swapping protocol allowing revokes between strangers. If the parties in swap net choose to use the inverted ledger then we have a systematic way of covering reversals on complex trading sequences.
If a reversal occurs,the double spends are all in the unordered set of trades the miners hold. These trades held unordered and privately by miners. They are incentivized to find and reverse the double spends. The reversals appear on the published blockchain, miners keep their unordered collections private. So all parties on escrow net that suffer a reversal can see the corrections on the inverted blockchain, like an exception queue resolved. All the protocols will clear properly on reversal.
The inverted blockchain is an unpatentable public resource.
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