Published on: 2013-02-14T21:02:25+00:00
In a 2013 email thread, Petr Praus discusses his plan to implement trading across chains in a P2P manner for his Master's thesis research. He clarifies that this implementation would be done as an alternative chain development and not merged back into the main Bitcoin client. Jorge Timón suggests two related projects - Colored Coins and Ripple - that could be of interest to Petr. Colored Coins allows the use of satoshis to represent smart property, shares, and IOUs of other currencies, which can be atomically traded for Bitcoin. Ripple is a concept where people who trust each other on a network can pay with IOUs transitively. Petr tries Ripple but finds that it lacks contract enforcement built-in. However, he believes that trading across chains is still a valuable feature, even if it's not included in the main client. He also mentions Open Transactions, which can do multicurrency trading but is more ambitious than what he intends to do. Petr prefers to make small changes in the mainline Bitcoin client rather than diving into something entirely new.The discussion also touches on the availability of Ripple's full node (validator) code, as only a JavaScript web client was open-sourced at the time. If trading across "chains" is possible with Ripple, users would have to wait for the release of the full node code. Nonetheless, there are plans for contracts in Ripple, as mentioned in their wiki.Overall, the email thread provides a useful discussion of various related projects and their potential applications in implementing trading across chains in a P2P manner. Petr's intention to implement this as an alternative chain development for his research is highlighted, along with the suggestions from Jorge regarding Colored Coins and Ripple.
Updated on: 2023-08-01T04:24:26.146517+00:00