Re: Universal Payment Channels

On 3 January 2016 at 20:36, Jehan Tremback <jehan.tremback@gmail.com> 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.
>

Very nice!  Pretty much what I have in mind too using webcredits.
Hopefully implementation will be complete early this year.


>
> -Jehan
>