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Author Topic: Open Transactions -- new release, with Use Cases and Diagrams  (Read 2405 times)
fellowtraveler
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January 16, 2011, 02:19:51 AM
 #1

Hey guys, the latest version of Open Transactions now supports "Destruction of Account History" (accomplished through signed balance agreements and transaction numbers.)
I suppose if you use it in cash-only mode (no accounts) then you don't care about that feature, but I thought it was pretty cool.

I also thought you might like to see the new article on Use Cases:
https://github.com/FellowTraveler/Open-Transactions/wiki/Use-Cases

The article shows which OT API functions to call for each use case. For more
detailed info on each API call, check out this page:
https://github.com/FellowTraveler/Open-Transactions/wiki/API

You might also like the pretty diagrams:
Architecture Overview: http://billstclair.com/ot/ot-diagram.jpg
Fully-Anonymous (cash only): http://billstclair.com/ot/OT-Anon-CashOnly.jpg
Pseudo-Anonymous (using accounts): http://billstclair.com/ot/OT-Pseudonym-Instruments.jpg

And of course, the overall project page:
https://github.com/FellowTraveler/Open-Transactions/wiki

co-founder, Monetas
creator, Open-Transactions
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genjix
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January 17, 2011, 07:57:16 PM
 #2

Thanks for this great project. I'm planning to use this in my next project.

thumbs up
jaekwon
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June 12, 2013, 10:37:40 PM
 #3

With destruction of history, how does anyone (like the issuer, or account holders) know that user Smith actually should have 10000 silvers? Both Smith and Server M can produce receipts, but how can user Alice and the silver issuer trust this receipt?

It seems that the only thing that can be trusted, is that Server M cannot cheat my account, and I cannot cheat Server M. But this does not guarantee that Smith and Server M collude and turn on the printing presses, so to speak. What am I missing?
fellowtraveler
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June 13, 2013, 05:36:44 AM
 #4

The issuer (or voting pool members) must audit the transaction server:

https://github.com/FellowTraveler/Open-Transactions/wiki/Auditing

This is what prevents inflation.

co-founder, Monetas
creator, Open-Transactions
becoin
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June 13, 2013, 06:46:10 AM
 #5

The issuer (or voting pool members) must audit the transaction server:

https://github.com/FellowTraveler/Open-Transactions/wiki/Auditing

This is what prevents inflation.
I can hardly follow all the developments in this project. 24 hours a day is not enough.  Smiley

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