Transferring value means...
Once it's transferred, it's transferred. To get it back,
you can't undo the transfer, but instead you have to do a transfer back.
In BitCoin, the sender, the recipient, and the amount transferred are all
stored in the blockchain.
In Ethereum, a whole computer program and its
execution pointer are stored in the blockchain. That can
include a lot more than just Who and How Much. One way to
operate the HumBeep protocol is to encode it into an ethereum
program, known fallaciously as a Smart Contract (they aren't
contracts, and they aren't necessarily smart).
Instead, we encode the protocol steps in the
HumBeep database, and separately do the transfer itself on the
BTC, Ethereum, or Lightning chains.
The problem in value transfer is not value
transfer, but establishing a meeting of minds before the
transaction is kicked off, and establishing that the deliverable
is actually delivered, and that the customer actually recieved
what they were promised, and that the seller gets paid if they
carried out their side of the bargain. That is mostly a lot of
real-world negotiation and verification, and not mostly the
value transfer itself.
So BTC and ETH and Lightning or any
other programmable form of money can all handle the value
transfer, but HumBeep handles the purchase and the sale in which
value transfer is an essential step, but just one step.
RSS for updates |
|
|