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Author Topic: disintermediating inter-blockchain transactions  (Read 3643 times)
s.matthew.english
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September 17, 2016, 02:59:15 PM
 #1

My friends and I are developing a way to disintermediate value exchange between different digital currencies, i.e. without relying on a trusted third party.

Different versions of peer-to-peer electronic cash exist as data represented by separate blockchains. Payments between such systems cannot be sent directly from one party to another without going through a financial institution. Bitcoin provided part of the solution but its utility is limited to intra-blockchain transactions. The benefits are lost if a trusted third party is required to execute inter-blockchain transactions. We propose a solution to the inter-blockchain transaction problem using the same fundamental principles of Bitcoin. The protocol is described by the Überledger framework, a hierarchical meta-blockchain layer that encapsulates information regarding the fidelity of peer-to-peer transaction facilitators.

On a high level the vision is not dissimilar to P2PTradeX but the execution is different. The idea is for a P2P reputation system on the integrity of transferring nodes. Web of trust was also a kind of reputation system, but I think Überledger is potentially more interesting to participants since they stand to be remunerated by transaction fees.

If you're interested there's more information here:

www.uberledger.io





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skang
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September 19, 2016, 02:36:53 AM
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reputation is so meh. atmic swap is the future

"India is the guru of the nations, the physician of the human soul in its profounder maladies; she is destined once more to remould the life of the world and restore the peace of the human spirit.
But Swaraj is the necessary condition of her work and before she can do the work, she must fulfil the condition."
s.matthew.english
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September 19, 2016, 09:26:08 AM
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Regarding reputation I would tend to disagree.

What is eBay, or for that matter AlphaBay Market/Silk Road, apart from an escrow service married to a reputation system?

What I've proposed is in fact a marriage of the same mechanisms.

On the subject of atomic swap we're in agreement. In fact it's an integral part of the system I'm envisioning.
agent725
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June 03, 2017, 07:06:34 AM
 #4

Hi @s.matthew.english !

If you're still reading this, we're also working on a way to do cross-blockchain swaps with a method called haystack on Internet of Coins. For more information, please visit https://coinstorm.net

Will send you a PM. :-)


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