Guest Posted November 8, 2016 Share Posted November 8, 2016 (edited) I wanted to point everyone's attention to a recent post on the Interledger W3C and IETF mailing lists (firstname.lastname@example.org, https://lists.w3.org/Archives/Public/public-interledger; email@example.com, https://mailarchive.ietf.org/arch/search/?email_list=ledger) about bootstrapping Interledger with something that has been called "dial-up" Interledger. The Interledger folks have been hinting at it for a while. Today, Adrian Hope-Bailie sent a message to the lists with more detail and how to participate in "dial-up" Interledger: https://lists.w3.org/Archives/Public/public-interledger/2016Nov/0032.html Quote When the Internet was first emerging and large university and research networks were coming together on the back of the Internet Protocol the challenge for everyday users was how they could access this new network of networks without special permission or equipment. We face a similar challenge with ILP in that very few of the ledgers accessible to us support the one function that is critical to universal ILP payments; real-time conditional transfers. (I wrote a bit about conditional transfer here: https://medium.com/@ahopebailie/the-power-of-conditional-payments-2d1ea531250a ) So, just like the pioneers of the Internet we're improvising! "Dial-up" interledger enables us to bootstrap the Interledger using "virtual" ledgers between connectors that have established a bounded trusted relationship. In other words, if I run a small connector and I trust my friend Stefan who also runs a connector then we can transact without needing an ILP-enabled ledger between us. We establish a credit limit that we are both comfortable with and agree on a way to settle our positions as required (via Bitcoin, bank transfer or even cash). Consider what will happen if we build a community of people who are all establishing similar peering relationships and then introduce ILP-enabled ledgers to bridge any gaps between connectors that don't know one another. Very soon we'll have an entirely new payments network where payments flow like information does on the Internet today. We're calling this project the Interledger Bootstrap Project and I've started capturing some thoughts on the project wiki: https://github.com/interledgerjs/ilp-kit/wiki In short: 1. Get the ilp-kit code and run a node 2. Find other nodes to peer with 3. Do ILP-enabled transactions 4. Win! The ilp-kit is still pre-release and likely to have some bugs and change a lot so if you're keen to be an early adopter and help test and contribute back to that project please do so. If you'd rather wait until the code stabilizes a bit then keep watching the list and we'll let you know when the first Beta is available. Please feel free to make contributions to the wiki. It would be great if this was a community effort! Adrian Edited November 8, 2016 by Guest Link to comment Share on other sites More sharing options...
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