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Re: [Ledger] Bootstrapping Interledger

From: Adrian Hope-Bailie <adrian@hopebailie.com>
Date: Thu, 10 Nov 2016 00:08:08 +0200
Message-ID: <CA+eFz_JTeiGw7Q=4n++G7450j8JS9rtbUG7hu9rsqxFZKt6uDQ@mail.gmail.com>
To: Ryan Fugger <arv@ryanfugger.com>
Cc: Interledger Community Group <public-interledger@w3.org>, Interledger Mailing List - IETF <ledger@ietf.org>
This sounds like a really cool idea!

I think we should wait until the ilp-kit code is stable and a little more
mature and then we can work on a migration path for existing ripplepay.com
users who want to migrate.

Ito hosted ILP I think the best way to do this is just make it easy for
people to host themselves, even if they are not technical, through
something like Heroku.

Let's take this offline and work on a roadmap for this. We should probably
aim for Q1 2017?

On 10 November 2016 at 00:01, Ryan Fugger <arv@ryanfugger.com> wrote:

> On Wed, Nov 9, 2016 at 1:10 PM, Adrian Hope-Bailie <adrian@hopebailie.com>
> wrote:
>> What are your thoughts on how we'd do that? Is ripplepay.com still in
>> active use? Is there a migration path we could devise for the existing
>> network to ILP?
> There are some people using Ripplepay still, although it's not terribly
> active -- about 15-20 payments per month over the last few months.  I'm
> sure some of the dormant users could be revived if there were new
> developments.
> If ILP was easy enough to set up, the fastest thing would be a tool and/or
> instructions on how to migrate their accounts over to ILP, assuming most or
> all of their connections would also be moving.  If you wanted to offer
> hosted ILP access, then redeveloping the site to allow connections to
> external ILP servers might make sense.
>> On 8 November 2016 at 20:30, Ryan Fugger <arv@ryanfugger.com> wrote:
>>> This is great Adrian.  My plan was always to evolve Ripplepay.com into a
>>> decentralized system like this.  If you or anyone is interested in
>>> upgrading or otherwise using that creeky old system to help support
>>> bootstrapping Interledger, I'd be happy to help out however I can.
>>> On Tue, Nov 8, 2016 at 12:56 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/@ahopebaili
>>>> e/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
>>>> _______________________________________________
>>>> Ledger mailing list
>>>> Ledger@ietf.org
>>>> https://www.ietf.org/mailman/listinfo/ledger
Received on Wednesday, 9 November 2016 22:08:42 UTC

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