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Re: Ripple protocol changes for Interledger support

From: Daniel Bateman <7daniel77@gmail.com>
Date: Thu, 28 Jan 2016 14:55:29 -0500
Message-ID: <CAB1OcyHJLiMMV2F1m-ToeejOeR6TumWro3NfVDEcO=EW-R9S3g@mail.gmail.com>
To: Evan Schwartz <evan@ripple.com>
Cc: Interledger Community Group <public-interledger@w3.org>, Steven Roose <stevenroose@gmail.com>, tiffany4772@hotmail.com
Evan,

Thank you for this information.

If non-XRP funds can truly be sequestered, this would be monumental.

What are the road blocks to such a feature?

Daniel
On Jan 28, 2016 2:49 PM, "Evan Schwartz" <evan@ripple.com> wrote:

> The complexity of implementing SusPay with IOUs comes from how the funds
> would need to be sequestered. That could be done with a new type of ledger
> entry, or they could be held in the SusPay itself. Either way though, all
> gateway software as well as the RPC commands would need to be updated to
> reflect the fact that IOUs can be stored in a new place. Additionally,
> there is the interaction between the freeze feature and the escrowed funds,
> as well as the fact that XRP is represented as integers while IOUs are
> stored in exponential format that would add further complications.
>
> On Thu, Jan 28, 2016 at 11:30 AM, Steven Roose <stevenroose@gmail.com>
> wrote:
>
>> 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
>>>
>>
>>
>
>
> --
> Evan Schwartz | Software Architect | Ripple
> [image: ripple.com] <http://ripple.com>
>
Received on Thursday, 28 January 2016 19:55:59 UTC

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