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RE: Ripple protocol changes for Interledger support

From: Tiffany St.John <tiffany4772@hotmail.com>
Date: Thu, 28 Jan 2016 14:43:08 -0500
Message-ID: <BLU180-W7051AEC4B8E687BA8BECA3A2DA0@phx.gbl>
To: Steven Roose <stevenroose@gmail.com>, Daniel Bateman <7daniel77@gmail.com>
CC: Evan Schwartz <evan@ripple.com>, Interledger Community Group <public-interledger@w3.org>
Steven,
With RCL, holding or accepting anything other than XRP requires trust because everything else is an IOU. 
 
 
Tiffany
 
From: stevenroose@gmail.com
Date: Thu, 28 Jan 2016 20:30:35 +0100
To: 7daniel77@gmail.com
CC: evan@ripple.com; public-interledger@w3.org
Subject: Re: Ripple protocol changes for Interledger support

Daniel. That is not true, non-XRP payments require no additonal trust in the gateway then when not making payments. All non-XRP payments happen within Ripple without involvement of the gateway. The gateway is only involved when withdrawing or depositing money out of or into Ripple.
So with SusPay, the only additional trust in the gateway while a transactions is suspended is that the gateway will not lose the funds while the transaction is in suspension. That extra trust is actually negligible since that trust is automatically assumed while just owning the IOU currency, that's what the trust limits are for.
So basically the only problem is that a user can possibly change its trust level while incoming or outgoing transactions are suspended. However, I don't think that should be so much of an issue. A user can now already change its trust limit to an amount lower than the amount of currency he owns. What that induced is that he can only spend the currency and no longer receive it.
I would be interested in hearing what other additional complexities are involved here..
On Thu, Jan 28, 2016 at 8:17 PM, Daniel Bateman <7daniel77@gmail.com> wrote:
Steven, 
Non-XRP payments require trusting the gateway that is issuing the non-XRP currency/commodity/security etc.
Does this fully answer your question? If not, please specify further.
Daniel

 		 	   		  
Received on Thursday, 28 January 2016 19:43:39 UTC

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