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What is the logical distinction between purchase and payment? How does one know the differences when the transactions are anonymous?
by bmelton 9y ago
What is the logical distinction between purchase and payment? How does one know the differences when the transactions are anonymous?
- SamPatt 9y agoEach step in the transaction flow appends a new step - digitally signed - into a JSON document that acts as a ledger. So the seller puts out the listing and the buyers signs it and sends the funds. The seller won't proceed with the order until the payment is made in full, so the ledger doesn't get any new information until then. The final step (the review) is the last addition to the ledger. It's based on the concept of the Ricardian Contract by Ian Grigg, adapted to become a ledger. This allows trade to continue asynchronously.
- tylersmith 9y agoEvery purchase goes to a unique address. Multiple payments can be made to that address but they constitute a single purchase.