- From: Melvin Carvalho <melvincarvalho@gmail.com>
- Date: Wed, 2 Mar 2016 07:00:29 +0100
- To: Stefan Thomas <stefan@ripple.com>
- Cc: Bob Way <bob@ripple.com>, Evan Schwartz <evan@ripple.com>, Interledger Community Group <public-interledger@w3.org>
- Message-ID: <CAKaEYh+_8=-X=y4kA1oLQ6zdDJj4+XWZfK2=2xywmeNegyyCTg@mail.gmail.com>
On 2 March 2016 at 05:13, Stefan Thomas <stefan@ripple.com> wrote: > > How many confirmations are needed for inter ledger transfers between > two block chains? > > Same as any other Bitcoin transaction. There are technically two > transactions that happen, but the second one is not in the critical path. > (In the execution phase, all transfers can execute simultaneously.) > But one block chain is bitcoin, for which confirmations are protected by a lot of hashing. The other block chain could be (and almost certainly will be) far less robust in terms of hashing. So how many confirms on the second chain? I admit I dont know the fine details here, but If we stick to two for both chains, then you could trigger a transfer in one ledger, then do a double spend in the easier ledger, leading to a need for a reversed transaction. Have I missed something? > > With payment channels it should be possible to reduce the number of > Bitcoin transactions between two connectors and make the process instant. > This could be based on the Lightning network concept. It would still > require some work to actually spec out how that would work in practice. > > On Tue, Mar 1, 2016 at 5:41 PM, Melvin Carvalho <melvincarvalho@gmail.com> > wrote: > >> >> >> On 2 March 2016 at 00:21, Bob Way <bob@ripple.com> wrote: >> >>> I’ll add that a blockchain base ledger can serve easily serve in the >>> role of an ILP ledger. All that is needed is to implement the ILP escrowed >>> transfer mechanism. >>> >>> I see that a key role of the Interledger Protocol will become connecting >>> blockchain based asset management ledgers (stocks, bonds, commodities, >>> cryptocurrencies) together, and also to connect them to existing >>> non-blockchain based ledgers (banks, payment networks). >>> >> >> How many confirmations are needed for inter ledger transfers between two >> block chains? >> >> If I've understood block chains correctly, you can never be certain one >> chain is the longest >> >> How does ILP get around this? >> >> >>> Bob Way >>> >>> Integration Architect | Ripple >>> bob@ripple.com <ben@ripple.com> | ripple.com >>> >>> >>> >>> >>> >>> >>> >>> On Mar 1, 2016, at 11:45 AM, Evan Schwartz <evan@ripple.com> wrote: >>> >>> Do you see blockchain as a competing technology? If so, how does the >>>> value proposition for interledger stack up against that for the blockchain? >>> >>> >>> ILP is a protocol for transferring value securely across centralized and >>> decentralized ledgers / blockchains. Interledger and blockchains operate at >>> different levels: blockchains are databases, whereas interledger is an >>> approach for connecting different databases. (I would argue that a number >>> of the value propositions attributed to blockchains have been overstated >>> beyond what they're actually good at, and many of them could be achieved in >>> more efficient ways. But's that's a longer discussion) >>> >>> -- >>> Evan Schwartz | Software Architect | Ripple >>> [image: ripple.com] <http://ripple.com/> >>> >>> >>> >> >
Received on Wednesday, 2 March 2016 06:00:59 UTC