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BSIP44: Hashed Timelock Contracts

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ryanRfox 2018-08-28 09:45:50 -04:00
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README.md
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@ -49,3 +49,4 @@ Number | Title |
[39](bsip-0039.md) | Automatically approve proposals by the proposer | Fabian Schuh | Protocol | Draft [39](bsip-0039.md) | Automatically approve proposals by the proposer | Fabian Schuh | Protocol | Draft
[40](bsip-0040.md) | Custom active permission | Stefan Schießl | Protocol | Draft [40](bsip-0040.md) | Custom active permission | Stefan Schießl | Protocol | Draft
[42](bsip-0042.md) | Adjust price feed to influence trading price of SmartCoins | Abit More | Protocol | Draft [42](bsip-0042.md) | Adjust price feed to influence trading price of SmartCoins | Abit More | Protocol | Draft
[44](bsip-0044.md) | Hashed Time-Locked Contract | Fox, Jones, taconator | Protocol | Draft

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bsip-0000.md → bsip-0044.md
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@ -1,8 +1,8 @@
BSIP: xxxx\ BSIP: 0044\
Title: Hashed Time-Locked Contract\ Title: Hashed Time-Locked Contract\
Authors: John M. Jones, Ryan R. Fox, taconator\ Authors: Ryan R. Fox, John M. Jones, taconator\
Status: Draft\ Status: Draft\
Type: Informational\ Type: Protocol\
Created: 2018-08-22\ Created: 2018-08-22\
Discussion: TBD Discussion: TBD
@ -90,8 +90,6 @@ The `timeout threshold` of the contract is defined by `depositor` within the HTL
To protect the `recipient`, early termination of an HTLC is not allowed by any party. Placing a `timeout threshold` far into the future is valid. User protection from locking up funds for an extremely long period could be provided by the UI used to create the HTLC. To protect the `recipient`, early termination of an HTLC is not allowed by any party. Placing a `timeout threshold` far into the future is valid. User protection from locking up funds for an extremely long period could be provided by the UI used to create the HTLC.
**TODO:** Consider adding an `Update_HTLC` operation to allow `depositor` to extend the `timeout threshold`
### **Automatic Transfers Upon Expiry** ### **Automatic Transfers Upon Expiry**
Upon expiry of the `timeout threshold`, the `escrow assets` held within the HTLC will **not** automatically be returned to `depositor`. A separate transaction must be initiated by the `depositor` to request `escrow assets` be transferred to `depositor`. Upon expiry of the `timeout threshold`, the `escrow assets` held within the HTLC will **not** automatically be returned to `depositor`. A separate transaction must be initiated by the `depositor` to request `escrow assets` be transferred to `depositor`.
@ -102,14 +100,10 @@ Code _could_ be added to automate the return of funds. This could be part of blo
Creating and fulfillment are two operations that add data to the blockchain. The `fee` for each operation is based on the standards set for blocks, and is similar to costs of other items stored on-chain. Creating and fulfillment are two operations that add data to the blockchain. The `fee` for each operation is based on the standards set for blocks, and is similar to costs of other items stored on-chain.
**TODO:** Discuss fees may be variable, as it is possible to store a variable length preimage hash.
## **Existing Escrow Proposals** ## **Existing Escrow Proposals**
This section describes various escrow concepts that have been proposed either for BitShares or for other blockchains or services in terms of the elements that have been defined above. This is intended to provide some background and comparison to the concepts that follow. This section describes various escrow concepts that have been proposed either for BitShares or for other blockchains or services in terms of the elements that have been defined above. This is intended to provide some background and comparison to the concepts that follow.
**TODO:** Elaborate Interledger
## **Existing Graphene Features that are Similar to What is Needed for Blockchain Escrowing** ## **Existing Graphene Features that are Similar to What is Needed for Blockchain Escrowing**
### **BitShares Escrow** ### **BitShares Escrow**
@ -164,6 +158,8 @@ Bob has now observed the `preimage` Alice used to "unlock" his HTLC, and he will
# **Discussion** # **Discussion**
TBD
# **Summary for Shareholders** # **Summary for Shareholders**
TBD TBD