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Universal Payment Channels

From: Jehan Tremback <jehan.tremback@gmail.com>
Date: Sun, 3 Jan 2016 11:36:30 -0800
Message-ID: <CABG_PfSUkeRbh9FmzR4+TXRBN+6u-ng9RLoAow=ihxWU+s6vDw@mail.gmail.com>
To: public-interledger@w3.org
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
Received on Monday, 4 January 2016 09:16:30 UTC

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