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(Disclaimer, work for Blockstream on Lightning). Commenters are right that micropayment channels have been around for years; but they're not widely used; more
by RustyRussell 11y ago
(Disclaimer, work for Blockstream on Lightning).
Commenters are right that micropayment channels have been around for years; but they're not widely used; more convenience is a big win. Lightning uses more sophisticated generalised 2-way channels, plus routing to form a network, but it's still early days.
- contingencies 11y agoSmiles from China Rusty. We met back in Sydney in the late 90s/early noughties. I wrote a Wikipedia page for your pettycoin project but it was deleted by the notability police. Funny that it changed your career path, as I'd found it significant in distant observation! Congrats on the new role. I was in touch with your apparent new co-worker Jorge (congrats to him too) on the more socially engaged side of economies circa time of writing http://www.ifex-project.org/ http://www.ifex-project.org/ ... I left Kraken now, still thinking to push IFEX forward if anyone expresses interest. Too many of these new systems have assumptions baked in, IMHO we still need a business-level transaction protocol that doesn't suck to glue these innovations together with conventional assets/systems of exchange and to justify (possibly automatically) in business terms (speed, reputation, redundancy, assets supported, jurisdictions (not) traversed, etc.) versus a well expressed risk model (critical) why they should be used. I feel this is a big part of the lineage-of-cryptoanarchist fintech equation that is missing if broad social adoption is desired.