Author: Tier Nolan 2014-04-30 23:02:41
Published on: 2014-04-30T23:02:41+00:00
The author has updated a new version of the protocol for trading between testnet and mainnet. The new version only requires non-standard transactions on one of the two networks. The next step is to implement a simple TCP/RPC server that will enable the protocol to trade between testnet and mainnet. Timeouts of much less than 24 hours should be possible now. In response to Tier Nolan's question, Luke Dashjr explained that the names TX1 and TX2 came from the original thread where he was outlining the idea. He updated the names as per the suggestion. He further explained that the bail in transactions are only signed by one of the parties and kept secret until the refund/payout transactions are all properly signed. There is, however, a malleability risk, hence the need for the 3rd party. It works on the same refund principle as payment channels.Regarding the implementation and testing of the system, the author stated that it is still in draft mode and that there is an implementation of (almost) this system but not by him. A full implementation is the next step. In response to Luke Dashjr's recommendation of changing the protocol from JSON-RPC to some extension of the Payment Protocol, if possible, the author agreed to look into it. Lastly, Luke Dashjr suggested only supporting compressed keys to discourage the use of uncompressed ones, which the author had no objection to.
Updated on: 2023-06-08T22:09:13.249316+00:00