Author: Jorge Timón 2013-02-13 21:49:50
Published on: 2013-02-13T21:49:50+00:00
A discussion thread from 2013 shows that Petr Praus was interested in implementing trading across chains in a P2P manner as part of his research towards his Master's thesis. He had plans to implement it as an alternative chain development and did not have any intention of merging it back into the main Bitcoin client. On the same thread, Jorge Timón suggested two related projects - Colored Coins, which uses satoshis to represent smart property, shares, IOUs of another currency and Ripple, a concept by which people who trust each other on a network are able to pay with IOUs transitively. In response, Praus tried Ripple but found out that it does not have any contract enforcement built-in. However, he thinks that trading across chains is a good feature to have, even if it's not on the main client. He also mentioned Open Transactions, which can do multicurrency trading but is quite ambitious, and he is looking at making relatively small changes in the mainline Bitcoin client rather than diving into something entirely new. If it's possible to trade across "chains" with Ripple, users will have to wait for the release of the full node (validator) code since only a JavaScript web client was open-sourced at the time of the discussion. Nonetheless, it seems Ripple has plans for contracts judging from their wiki. The thread ends with Jorge Timón providing links to freicoin and the archived Ripple project.
Updated on: 2023-06-06T09:51:42.980380+00:00