Author: ZmnSCPxj 2019-01-02 12:15:48
Published on: 2019-01-02T12:15:48+00:00
The context discusses a protocol developed to implement the "Make Offer", "Take Offer" and "Cancel Offer" functionalities in two bitcoin-like blockchains. The protocol works by creating a partial blockchain transaction that gives one asset to Alice with the secret or gives them both to Bob on timeout. If Bob accepts the offer, he adds the other asset to the transaction and posts it to the blockchain. However, if Alice wishes to cancel the trade before Bob has confirmed this transaction, she double spends the output and then reclaims her asset. The context also discusses the issue of scaling such schemes on-Lightning and suggests that trusted third parties can compute the outcome of offers to avoid on-chain resolution. Additionally, the idea of sending a payment in one asset and the other party receiving it as another asset through an exchange node is deemed unsound given what we are able to construct in Lightning. Lastly, the possibility of using a single two-party channel to record multiple asset types with distinct outputs for different asset-type/party combinations is discussed but still requires a viable route from payer to payee where channels have the target asset.
Updated on: 2023-06-02T16:18:34.327707+00:00