Wednesday, October 21, 2020

Entry and exit in the ledger shards

 We are working with the dual of the S/L network.

An account on the main ledger can be locked with a prepaid fee for some N transactions in bearer cash. It has a time lime. We automatically get maximum entropy partitions of any ledger. The locked accounts are shards, handled properly by the miners via a market for mining services. Alwayssort, finite chains.


Kind of like lightening. One party, A locks the account and has a shard for 30 cash transactions. A sends to B send to C sends to D. All these parties have accounts on the main chain. Any party can exit within the timeout. Say party C wants out. Party C has residual bearer cash issued by B, it can exchange that back on the main ledger, but pays market fee. Party C carries D, it has sent D bearer cash but D does not opt out. Then Party C doesn't care, party C does not double spend, Party C locks up sufficient bearer cash from its account to cover D. When D wants out, early, it covers its own fees and exchanges with C, otherwise the bearer cash expires or counts out and reverts to main chain.

So this is exactly like Lightening, I think. But anyone can do it, with any ledger, actually, because miner fees are open market; it one of dual forms in the sandbox. Essentials remain, exit within timeout for a market fee, maximum entropy operation to minimize transaction, and congestion pits at the interface. We just went from immediate ex post to immediate ex ante on the pit boss risk. That make the dual network.

This is great because some thing are obvious in the dual but not visa versa. Miners understand round robin transaction queues and congestion fees. They don;t get S/L pits. But the dual makes the one match the other. A trading pit for a miner is like one of those telecommunications pits our Nobel friends created. Essentially selling bandwidth, transaction space in a limited spectra.  Miners are doing that all the time, and they are subject to the same aggregation models as S/L and telecommunications.  That is aggregating or disaggregating transactions to optimize economies of scale. 

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