ILP Workshop Presentation 2 25
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Interledger Overview Stefan Thomas • Evan Schwartz 1st Community Group Workshop
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Transcript of ILP Workshop Presentation 2 25
Interledger Overview
Stefan Thomas • Evan Schwartz
1st Community Group Workshop
Why are we here?
Payments Work Great!Payments Work Great!*
...until you need to go across systems
Payments are easywithin one ledger!
The world will never agree to use one single ledger
We need an open protocol for
interledger payments
INTERLEDGERPayments across payment networks
8
Ledgers track accounts and balances
Sender RecipientLedger
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But not everyone is on the same ledger
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Connectors relay money
Connector
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Connectors relay money
Connector
Alice 100
Chloe 0
Chloe 110
Bob 0100 110
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What if theconnector drops it?
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Money would be lost
Alice 100
Chloe 0
Chloe 110
Bob 0
?
100
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Escrow provides security
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Ledger-provided escrow reduces risk
Alice 100
Escrow 0
Chloe 0
Chloe 110
Escrow 0
Bob 0
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Funds are escrowed from left to right
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Alice 100
Escrow 0
Chloe 0
Chloe 110
Escrow 0
Bob 0
ESCROW
Sender puts funds into escrow
Alice 100
Escrow 0
Chloe 0
Chloe 110
Escrow 0
Bob 0
100
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Connectors put funds into escrow
Alice 0
Escrow 100
Chloe 0
Chloe 110
Escrow 0
Bob 0
110
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Transfers are executed right to left
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Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 110
Bob 0
EXECUTION
Recipient signs receipt
Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 110
Bob 0
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Receipt releases funds from escrow
Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 110
Bob 0110
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How does the connector get reimbursed?
Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 0
Bob 110
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?
Connector gets receipt from ledger
Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 0
Bob 110
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Connector passes on the receipt
Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 0
Bob 110
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Receipt releases funds from escrow
Alice 0
Escrow 100
Chloe 0
Chloe 0
Escrow 0
Bob 110100
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Payment is complete
Alice 0
Escrow 0
Chloe 100
Chloe 0
Escrow 0
Bob 110
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ESCROW
Transfers are escrowed L2R, executed R2L
EXECUTION
Paths can be short
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Or long
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Or even longer
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The Interledger
Any ledger can join…
Just by peering
ILP Value Proposition
Everyone has global reach.OPEN
Fit to be a standard.NEUTRAL
Anybody, any currency, any country.UNIVERSAL
Demo Time
Questions?
Use Case Example + DemoContent Micropayments
Let’s say Robert wrote a poem...
“Two roads diverged in a yellow wood,And sorry I could not travel both...”
And Sarah turned that into a song...
“Two roads diverged in a yellow wood,And sorry I could not travel both...”
And Tracy used that song in a movie....
“Two roads diverged in a yellow wood,And sorry I could not travel both...”
Robert loves other people reading,sharing, and using his poems
Robert loves other people reading,sharing, and using his poems
...as long as he is paid fairly.
Sarah loves other people listening to, sharing, and using her songs
...as long as she is paid fairly.
Tracy loves other people watching,sharing, and using her movies
...as long as she is paid fairly.
What if we could directly pay Robert, Sarah, and Tracyat the same time?
