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This repository was archived by the owner on Jul 14, 2020. It is now read-only.
⚗️ Create basic expiry model of RFC003 #14
Description
Calculate the appropriate alpha_expiry and beta_expiry for each party given the following:
- A function which when given the time since broadcasting a transaction and the transaction fee will return the probability that the transaction has been included in a block.
- A function which when given the time a transaction has been included in a block will return the probability of it being permanently in the blockchain.
- The party's required confidence that they won't lose an asset.
DOD:
- Make a meeting to demonstrate the model
- Give realistic
alpha_expiry,beta_expiryvalues for BTC-ETH and ETH-BTC. - Include results in relevant RFCs.
- Create issue to default to such realistic values in COMIT-i
Child of comit-network/comit-rs#670
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[-]⚗️ Create basic security model of RFC003[/-][+]⚗️ Create basic security model of RFC003 (expiry)[/+]16 remaining items
bonomat commentedon Mar 6, 2019
I'm not sure if I understand your comment correctly: My understanding of this model is exactly for making this secure for anyone (not just our implementation)
luckysori commentedon Mar 6, 2019
Alice's risk is determined by whether she attempts to redeem
alpha_assetwhen it's too close toalpha_expiry.The model calculates
alpha_expiry, which determines the likelihood that Alice will have enough time to redeemalpha_asset. But in terms of security this value doesn't matter.Obviously, for egregiously large values of
alpha_expiryAlice could never possibly be in a situation in which she would be attempting to redeem when it's too dangerous, but the model does not take any of this into account.LLFourn commentedon Apr 2, 2019
The latex conversion I made of the previous work is here: https://www.overleaf.com/read/sswbyytnfjhy
Please review.
D4nte commentedon Apr 4, 2019
@LLFourn who should be reviewing?
bonomat commentedon Apr 4, 2019
Really good work on that so far. I've added some comments and discussed with @LLFourn offline.