Re: Universal Payment Channels

Hi,

It seems a lot like circuits and accumulators in the Digital Silk Road
<http://www.cap-lore.com/Agorics/Library/dsr.html>. The escrow element
has been explored in Bitcoin sidechains
<http://gendal.me/2014/10/26/a-simple-explanation-of-bitcoin-sidechains/>,
too.

The escrow amount is an issue there as it's needed once for each pair of
peers and only facilitates recurring back & forth payments between given
peers that mostly cancel each other out.

Xav

On 01/04/2016 06:36 AM, Jehan Tremback wrote:
> Hi, I recently presented my protocol, Universal Payment Channels, at
> CCC. Afterwards, I met Evan Schwartz, who mentioned this group.
>
> UPC is a lot like Interledger, except that ledgers hold money in
> escrow for an unlimited number of payments, instead of just one.
>
> The main effect of this is that ledgers are not involved in individual
> payments. This has a large effect on scalability because a potentially
> infinite number of payments can be exchanged between two connectors
> without any involvement of a bank, or any data saved to a blockchain.
> In this way it is similar to the bitcoin lightning network proposal.
>
> Also, individual payments can very fast, due to the non-involvement of
> the ledgers. No confirmation time or bank systems to process
> individual payments.
>
> Here's the paper if you're
> interested: http://altheamesh.com/documents/universal-payment-channels.pdf
>
> I'm also working on a routing protocol for this, which could probably
> be used with Interledger (or even Lightning) as well. It's based on
> AODV, and preserves complete anonymity of sender and receiver at the
> cost of somewhat-high network traffic. It was part of the above paper
> that some of you may have seen but I've removed it from the current
> draft. I'll post more about it later if anyone is interested.
>
> -Jehan