I must admit I don't understand all the details fully, but this looks pretty interesting.
At some point we are going to want to 'tally up' smaller transactions and only commit to the blockchain the totals. The space in each block is just too valuable to have every last transaction in.
I will have to go through it a couple of times with a strong cup of coffee !
:-)
P.S like the way you clearly credit other authors for what they've done previously.
Topic: Decentralized networks for instant, off-chain payments - page 3. (Read 11302 times)
I've written up a rough draft of an idea for decentralized networks allowing instant, off-chain payments. The networks would use the block chain for settlement, but use chained micropayment channels for payment clearing. I used constructs invented/described by Mike Hearn, hashcoin, cjp, Meni Rosenfeld, retep and others in the idea. The network would utilize two-phase commit of a payment across a chain of micropayment channels through multiple intermediary nodes.
The write-up is here, as a draft under my Wiki user page:
https://en.bitcoin.it/wiki/User:Aakselrod/Draft
UPDATE
Proof-of-concept here:
https://github.com/aakselrod/libtxchain-java
The write-up is here, as a draft under my Wiki user page:
https://en.bitcoin.it/wiki/User:Aakselrod/Draft
UPDATE
Proof-of-concept here:
https://github.com/aakselrod/libtxchain-java
Jump to: