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CreditExchange
Main.CreditExchange History
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September 26, 2010, at 07:50 PM
by - clean up
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There is a basic explanation of the Credit Exchange concept at [[Definitions]].
For this extended example, considerNode A, which can route payments between any three nodes B,C, and D.
For this extended example, consider
to:
There is a basic explanation of the credit exchange concept at [[definitions]].
For this extended example, consider node A, which can route payments between any three nodes B, C, and D.
For this extended example, consider node A, which can route payments between any three nodes B, C, and D.
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A is more friendly with nodes B and C, less friendly with node D. So there is no transaction fees for payments routed B to C or C to B. Nor is there a transaction fee for routing payments where D is the payer. However, where D is the payment recipient, there is a transaction fee of 2%.
Node A's exchange rate table is
Node A's exchange rate table is
to:
A is more friendly with nodes B and C, less friendly with node D. So A charges no transaction fees for payments routed from B to C or C to B. Nor is there a transaction fee for routing payments where D is the payer. However, where D is the payment recipient, A charges a transaction fee of 2%.
Node A's exchange rate table is:
Node A's exchange rate table is:
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Every node stores an exchange rate table like the above, which it uses when acting as a payment intermediary between any two neighbors.
A node could store aridiculous exchange rate, like 1%, or 0%, to discourage exchanges it does not want to do. Alternatively, the party could register a second node to segregate credit exchanges it does not want to do.
A node could store a
to:
Every node stores an exchange rate table like the one above, which it uses when acting as a payment intermediary between any two neighbors.
A node could store a very high exchange rate to discourage exchanges it does not want to do. It could store a very low exchange rate (or no fee at all) to encourage exchanges it does want to do.
A node could store a very high exchange rate to discourage exchanges it does not want to do. It could store a very low exchange rate (or no fee at all) to encourage exchanges it does want to do.
September 26, 2010, at 12:44 AM
by - remove link to non-existent page
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A node could store a ridiculous exchange rate, like 1%, or 0%, to discourage exchanges it does not want to do. Alternatively, the party could register a second node to segregate credit exchanges it does not want to do. See [[Users,Parties, and Nodes]].
to:
A node could store a ridiculous exchange rate, like 1%, or 0%, to discourage exchanges it does not want to do. Alternatively, the party could register a second node to segregate credit exchanges it does not want to do.
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A is more friendly with nodes B and C, less friendly with node D. So there is no transaction fees for payments routed B to C or C to B. Nor is there a transaction fee for routing payments where D is the payer. However, where D is the payment recipient, there is a transaction fee of 2%. This situation could be diagrammed like so
to:
A is more friendly with nodes B and C, less friendly with node D. So there is no transaction fees for payments routed B to C or C to B. Nor is there a transaction fee for routing payments where D is the payer. However, where D is the payment recipient, there is a transaction fee of 2%.
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There is a basic explanation of the Credit Exchange concept at [[Definitions]].
Changed lines 3-4 from:
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[[Definitions|Basic definition of credit exchange.]]
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'''Credit Exchange'''
There is a basic definition of credit exchange at [[Definitions]]
For this extended example, consider Node A, which can route payments between any three nodes B,C, and D.
C
|
B - A - D
A is more friendly with nodes B and C, less friendly with node D. So there is no transaction fees for payments routed B to C or C to B. Nor is there a transaction fee for routing payments where D is the payer. However, where D is the payment recipient, there is a transaction fee of 2%. This situation could be diagrammed like so
Node A's exchange rate table is
B-A -> A-C: 1
C-A -> A-B: 1
B-A -> A-D: 0.98
C-A -> A-D: 0.98
Every node stores an exchange rate table like the above, which it uses when acting as a payment intermediary between any two neighbors.
A node could store a ridiculous exchange rate, like 1%, or 0%, to discourage exchanges it does not want to do. Alternatively, the party could register a second node to segregate credit exchanges it does not want to do. See [[Users,Parties, and Nodes]].
There is a basic definition of credit exchange at [[Definitions]]
For this extended example, consider Node A, which can route payments between any three nodes B,C, and D.
C
|
B - A - D
A is more friendly with nodes B and C, less friendly with node D. So there is no transaction fees for payments routed B to C or C to B. Nor is there a transaction fee for routing payments where D is the payer. However, where D is the payment recipient, there is a transaction fee of 2%. This situation could be diagrammed like so
Node A's exchange rate table is
B-A -> A-C: 1
C-A -> A-B: 1
B-A -> A-D: 0.98
C-A -> A-D: 0.98
Every node stores an exchange rate table like the above, which it uses when acting as a payment intermediary between any two neighbors.
A node could store a ridiculous exchange rate, like 1%, or 0%, to discourage exchanges it does not want to do. Alternatively, the party could register a second node to segregate credit exchanges it does not want to do. See [[Users,Parties, and Nodes]].