Oh I see – that part could be done by software automation, and not necessarily manually.
How can such a thing as off chain tx work?
I’m curious about this as well. I haven’t looked into how Open Transactions or Lightning are to function. Would like an understandable summary.
Doesn’t that make at least two systems everyone will have to support that wants to handle a coin? I don’t see a better solution, but I don’t yet see how it’s supposed to work in practice.
Some discussion about Lightning, https://www.reddit.com/r/Bitcoin/comments/38st5t/eli5_how_would_i_actually_make_a_transaction_with/
Theoretically, if B&C signers get a signal to send to and send from an address at the same time they can do the txn ‘off chain’ by just skipping the intermediary address and sending straight to the end destination. This may have more applications in the future. Disclaimer: i know nothing.
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http://opentransactions.org/wiki/index.php?title=Main_Page
You can also review “open transaction” videos(by odem) on youtube. Because open transaction is delayed a lot, I hope we B&C exchange implement the off chain transaction tech.
Btw, ethereum, the so called on chain universal transaction platform, has been released for several months, and what’s their blockchain data size now? 10GB? I am afraid that they are abusing blockchain tech. Why I am fond of B&C is that Jordan’s words convinced me.
Do we need several independent blockchains(peershares) or a universal big one(ethereum)? If people rely on a big blockchain, it is also a sort of “centralization”, not good.
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I would vote D. Every person will be its own “bank” with its own blockchain cooperating with everyone else!
crazy?
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I personally see 1 principal working chain for a particular item or org in the real world, as per the vision of the tokenization of the real world thru blockchain.
Nu is hopefully the principal working tokenization of the fed.
Not very far from now, we ll see tokenizations of ecommerce, travel agent or insurance companies.
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