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binnyrens

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  1. Hi All, Interledger seems to be a cheap, seamless and fully mature technological solution for sending money accross blockchains, accordint to what I have read about it in the press, on its website and from Ripple. As a result, I have recently been perplexed why interledger solutions that send money accross public blockchains are not more popular within the cryptocurrency community. In my research, I recently found 2 plug-ins on Github that claim to send money, presumably accross blockchains. This Ethereum interledger plug-in was created by Ripple's Evan Schwartz and this Bitcoin interledger plug-in was created by Ripple (according to this CoinDesk article) and was also contributed to by Evan Schwartz. Can someone explain to me how one would download or use these plug-ins to send money from Bitcoin to Ethereum? Or how they work logistically? How would you find a connector to help you execute a trade? I am not a developer and don't really know where to start looking at these pages. Any guidance would be much appreciated. I would also appreciate any thoughts on why solutions for sending money accross public blockchains using interledger are not more mature, when interledger seems to be a mature technology used by banks/ripple and lauded by the crypto press. After all, it seems like interledger should be able to function as an infinitely scalable and cheap decentralized crypto-currency exchange. Thanks!
  2. Hi All, Interledger seems to be a cheap, seamless and fully mature technological solution for sending money accross blockchains, accordint to what I have read about it in the press, on its website and from Ripple. As a result, I have recently been perplexed why interledger solutions that send money accross public blockchains are not more popular within the cryptocurrency community. In my research, I recently found 2 plug-ins on Github that claim to send money, presumably accross blockchains. This Ethereum interledger plug-in was created by Ripple's Evan Schwartz and this Bitcoin interledger plug-in was created by Ripple (according to the Coindesk article above) and was also contributed to by Evan Schwartz. Can someone explain to me how one would go about using these plug-ins to send money from Bitcoin to Ethereum using these plug-ins? I am not a developer and don't really know where to start looking at these pages. Any guidance would be much appreciated. I would also appreciate any thoughts on why solutions for sending money accross public blockchains using interledger are not more mature, when interledger seems to be a mature technology used by banks/ripple and lauded by the crypto press. After all, it seems like interledger should be able to function as an infinitely scalable and cheap decentralized crypto-currency exchange. Thanks!
  3. Are there any technical issues that need to be ironed out before someone could create an app that connects multiple blockchains/cryptocurrencies using interledger? For example, could you create an app that connects ethereum and ethereum classic using ILP? Specifically, an app allowing a connector who has money on both blockchains to facilitate transfers by accepting a sender's money on one blockchain while releasing that money to a recipient on another blockchain. The process would be secured by cryptographic escrow, eliminating coutnerparty risk. What are the technical factors, if any, that are preventing that vision from being executed? The reason I would be particularly confused if this hasn't been done is that the available resources portray ILP integrations to be relatively easy to create/facilitate. This video on Youtube shows Bitstamp and Gatehub talking about how they connected their services through ILP within 5 days of work. Let me know if you have any insight on this!
  4. Hi, As I understand it, interledger protocol is supposed to connect ledgers (whether blockchains or banks), allowing for the seamless transfer of value. I understand that many financial institutions are using interledger by adopting ripplenet. Still, I am confused why there does not seem to be any consumer facing applications that employ interledger. For example, why are there no applications that allow you to send money from the Ethereum ledger to the Bitcoin ledger nearly for free using the protocol? Or are there such applications I am simply not aware of? This is especially perplexing given that interledger is supposed to facilitate nearly free transfers between blockchains. In addition, the system is open source, public and readily available through API's. A second question: can you embed ILP payments into smart contracts? Can a smart contract hold dollars in escrow and promise to pay them out through the interledger? I haven't thought this through very carefully, but basically - is ILP smart contract enabled? Let me know if you have any thoughts on either of these items. Thank you!
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