The Interledger Community 🌱

Discussion on: New Day — Grant Report #2

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chrislarry profile image
Chris Lawrence

Hi @tadej So am I correct when I read that your in-house web monetization doesn't use Interledger in any way? I really liked the white-paper, could you post that as a stand alone post on. the community platform?

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muki profile image
Filip Muki Dobranic

Hi, and please accept my apologies for the late reply. To answer your first question: not really, but let me qualify that by noting we're a bit of a special case, since we completely control the ledger in question. There is only one ledger, so there's really no "inter" to it.

We could of course implement a full Interledger node and we were actually planning on doing that at first, we even have some leftover code from that era. However, after the initial prototype was underway and after discussing things with Alex we concluded that implementing a full Interledger node is unnecessary and would complicate our lives to no real benefit.

While we don't implement a full interledger node (remember, we are the only buyer and seller of our tokens) we still implement many parts of the web monetization specification. We implement the Simple Payment Setup Protocol (SPSP) to obtain wallet addresses and to integrate with WMS meta tags as per the protocol. So our extension uses SPSP to set everything up and then it submits transfer requests to our ledger (API) which processes them instantly (logs the transaction) and confirms.

Everything else then happens "off line". At the beginning of each month we tally the transactions, apply the "exchange rate" to EUR and tell the participating media to invoice us for the appropriate amounts. The coins are then effectively burned as new ones are created for the next month's subscriptions.

As for the second question: yes I promise to do it no later than end of next week with pretty formatting and all the links.

I hope I answered your question, if not, let me know and I can try to use better words. :)

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chrislarry profile image
Chris Lawrence

Thank you for the explanation