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Re: Blockchains and interledger (left-over question from the workshop)

From: Stefan Thomas <stefan@ripple.com>
Date: Tue, 1 Mar 2016 20:13:32 -0800
Message-ID: <CAFpK0Q26MLr4wTo4hdBr50tk=AgMzL7w4y28q6OFfuNJWR0x=g@mail.gmail.com>
To: Melvin Carvalho <melvincarvalho@gmail.com>
Cc: Bob Way <bob@ripple.com>, Evan Schwartz <evan@ripple.com>, Interledger Community Group <public-interledger@w3.org>
> 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.)

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 04:14:22 UTC

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