Jump to content
KarmaCoverage

PolySign & Standard Custody & Trust

Recommended Posts

1 hour ago, King34Maine said:

I'm wondering if the Polysign platform will employ features of the XRPL like Escrow as well as ILP's Multihop feature that uses 'two-phase commit' payment scheme

I can see where escrow could become valuable given the defined time period. This would make any financial calculations/valuations easy to preform. sort of like a SWAP/Option with a defined expiration period. There is a benefit of knowing that the value units are located in a specific place and time.

1 hour ago, King34Maine said:

I think ILP's Multihop feature would remedy the risks associated with adding multiple signatures

Yes, as far as I understand, this would be correct. I'm of the understanding that the more signatures (hops in this case) you add the more secure the technology works. Not that there is a benefit to gain from too many hops, hence using XRP as a simpler "bridge currency".

I think the most valuable aspect of ILP's Multi-hop/Connector architecture, is that it leaves a commercial party (a market maker) at risk, and thus leaves this operating party focused on efficiently providing profitable liquidity between XRP:xFiat. As long as this market making operating party can operate at a more capital efficient rate than correspondent banking operators/competition... TIME will tick and one of the least understood aspects of value creation that Ripple provides will slowly chip away at the less capital efficient methods market share for FX TXs

That "least understood" thing, is simply an inventory turnover cycle.

Given the ability to settle TXs in seconds instead of days, the ILP Connectors/Market Makers only need to float enough capital to supply minutes worth of TX volume... instead of days of worth of float. This goes all the way back to when Patrick Griffin floated (pun intended) the idea of XRPL being a "Market for Float", aka a Market for Liquidity, aka xRapid, aka ODL.

In addition to that, these ILP Connector/Market Makers can benefit from network effects by simply making a market between XRP and whatever Fiat they are a Dealer for. So there are potential operational overhead efficiencies to be had (less currency pairs to trade/manage). On the Corp Treasury department side, once these services have enough liquidity to service the Corp's needs... I'd expect to see a 70%+ shrinking of Corp Treasury department operations staff, and headache which they previously dealt with.

Share this post


Link to post
Share on other sites
5 hours ago, KarmaCoverage said:

I found this, which made me think that maybe PolySign is using Codius smart contracts to enable TXs to be auto signed pragmatically. You would also be able to use Codius with multi-sig.

 


Sorry mate but Codius was not completed and has been sitting in that state for a number of years now.  David even said it doesn’t exist yet (and it hasn’t been completed since) in a tweet in that very thread.

Forget about codius.  It’s not happening yet,  and may not ever.  If it starts to I’m sure we will know without needing to look back years ago for tweets.

Share this post


Link to post
Share on other sites
Posted (edited)
49 minutes ago, Dogowner5 said:


Sorry mate but Codius was not completed and has been sitting in that state for a number of years now.  David even said it doesn’t exist yet (and it hasn’t been completed since) in a tweet in that very thread.

Forget about codius.  It’s not happening yet,  and may not ever.  If it starts to I’m sure we will know without needing to look back years ago for tweets.

Maybe not Codius itself, but they do mention a "3rd generation, proprietary, private blockchain technology". If there was anything good to take from Codius it would be this specific part of keeping secrets.. 

Quote

Proprietary blockchain technology

Leading blockchain architects Arthur Britto and David Schwartz designed PolySign's technology engine for securing digital assets. Their 3rd generation, proprietary, private blockchain technology is foundational to the development of digital asset infrastructure.

 

Edited by jn_r

Share this post


Link to post
Share on other sites
1 hour ago, Dogowner5 said:

Sorry mate but Codius was not completed and has been sitting in that state for a number of years now.

https://codiushosts.com/hosts

Yeah I guess it looks like it died off around the end of 2018.

59 minutes ago, jn_r said:

they do mention a "3rd generation, proprietary, private blockchain technology". If there was anything good to take from Codius it would be this specific part of keeping secrets.. 

This makes a lot of sense.

Share this post


Link to post
Share on other sites
1 hour ago, Dogowner5 said:


Sorry mate but Codius was not completed and has been sitting in that state for a number of years now.  David even said it doesn’t exist yet (and it hasn’t been completed since) in a tweet in that very thread.

Forget about codius.  It’s not happening yet,  and may not ever.  If it starts to I’m sure we will know without needing to look back years ago for tweets.

I think Codius is still alive and well. I believe it has just taken Ripple a bit of time to get to a place where they had a dedicated team devoted to building out the Codius platform.  Through the Logos acquisition last year they now have that dedicated team of developers. I spoke about this subject here in a bit more depth:

 

Share this post


Link to post
Share on other sites
3 minutes ago, KarmaCoverage said:

What was Logos? I must have missed that with the divorce nonsense.

Logos was a blockchain payments platform similar to Ripple based out of New York that Ripple acquired via Xpring to build a DeFi platform utilizing XRP/ILP/Codius. Here's a quick into about the Logos Network if you have a Medium subscription.

Share this post


Link to post
Share on other sites
54 minutes ago, King34Maine said:

Wow, then you missed the ideas David put forth regarding potential updates to the XRPL!!

Missed that too :o Skimmed it, looks like I have some of reading to do.

Maybe a thread on the most innovative things per month or per quarter would be useful to help people get up to speed. I know simply being around as new ideas and innovations occurred helped me learn a lot and understand how everything fits together.

Share this post


Link to post
Share on other sites
1 hour ago, KarmaCoverage said:

Missed that too :o Skimmed it, looks like I have some of reading to do.

Maybe a thread on the most innovative things per month or per quarter would be useful to help people get up to speed. I know simply being around as new ideas and innovations occurred helped me learn a lot and understand how everything fits together.

LOL, I would be typing for days to cover a year. Yeah, the XRPL potential updates was quite a bit of information to go through. I find myself still having to go back and re-read some things. With that being said the XRPL updates and acquisitions were probably the most notable things from 2019 along with a slew of new partnerships and the 200 million Series-C funding round as the cherry on top for Ripple. I would say the most innovative development for ILP was the launch/development of STREAM.

Share this post


Link to post
Share on other sites
16 hours ago, Dogowner5 said:

Sorry mate but Codius was not completed and has been sitting in that state for a number of years now.  David even said it doesn’t exist yet (and it hasn’t been completed since) in a tweet in that very thread.

Do you mean this tweet?

I think he's pointing to the greater reliance on dev community to build out the environment and one of the main problems faced by Codius today - there just isn't enough development of it in the wild.

That could rapidly change once the value proposition of Codius makes better commercial sense to hosts and devs. It could be triggered by a DeFi solution, online game, app or event. We know Logos is working on a XRP based DeFi solution so that necessarily means a smart contract platform (which we have to assume means Codius).

But after what happened in 2018, it will be an interesting exercise to see how they re-boot the ecosystem. I suspect it would have to be enterprise driven, not "community" driven.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...