W3C home > Mailing lists > Public > public-interledger@w3.org > November 2016

Re: Bootstrapping Interledger

From: Paul Frazee <pfrazee@gmail.com>
Date: Tue, 8 Nov 2016 11:39:58 -0600
Message-ID: <CAD4FMej2KjOQn_2u1oB6Y9EzcOQhdrLnm55x9B99jpormSY4+A@mail.gmail.com>
To: Adrian Hope-Bailie <adrian@hopebailie.com>
Cc: Interledger Community Group <public-interledger@w3.org>, Interledger Mailing List - IETF <ledger@ietf.org>
I'd be willing to run a node without tx fees while we're in the learning
phase. What kind of admin/maintenance do I need to be prepared for? The
wiki is good, but a checklist for setup and ongoing maintenance would be
helpful.

I could also help organize an Austin-based meetup.

On Tue, Nov 8, 2016 at 2:56 AM, Adrian Hope-Bailie <adrian@hopebailie.com>
wrote:

> When the Internet was first emerging and large university and research
> networks were coming together on the back of the Internet Protocol the
> challenge for everyday users was how they could access this new network of
> networks without special permission or equipment.
>
> We face a similar challenge with ILP in that very few of the ledgers
> accessible to us support the one function that is critical to universal ILP
> payments; real-time conditional transfers. (I wrote a bit about conditional
> transfer here: https://medium.com/@ahopebailie/the-power-of-
> conditional-payments-2d1ea531250a)
>
> So, just like the pioneers of the Internet we're improvising!
>
> "Dial-up" interledger enables us to bootstrap the Interledger using
> "virtual" ledgers between connectors that have established a bounded
> trusted relationship.
>
> In other words, if I run a small connector and I trust my friend Stefan
> who also runs a connector then we can transact without needing an
> ILP-enabled ledger between us.
>
> We establish a credit limit that we are both comfortable with and agree on
> a way to settle our positions as required (via Bitcoin, bank transfer or
> even cash).
>
> Consider what will happen if we build a community of people who are all
> establishing similar peering relationships and then introduce ILP-enabled
> ledgers to bridge any gaps between connectors that don't know one another.
> Very soon we'll have an entirely new payments network where payments flow
> like information does on the Internet today.
>
> We're calling this project the Interledger Bootstrap Project and I've
> started capturing some thoughts on the project wiki:
> https://github.com/interledgerjs/ilp-kit/wiki
>
> In short:
> 1. Get the ilp-kit code and run a node
> 2. Find other nodes to peer with
> 3. Do ILP-enabled transactions
> 4. Win!
>
> The ilp-kit is still pre-release and likely to have some bugs and change a
> lot so if you're keen to be an early adopter and help test and contribute
> back to that project please do so. If you'd rather wait until the code
> stabilizes a bit then keep watching the list and we'll let you know when
> the first Beta is available.
>
> Please feel free to make contributions to the wiki. It would be great if
> this was a community effort!
>
> Adrian
>
Received on Tuesday, 8 November 2016 17:41:12 UTC

This archive was generated by hypermail 2.3.1 : Tuesday, 8 November 2016 17:41:13 UTC