My fellow retards,
This pheverdream delves deep into the elvish mind, likely coming from the piper himself.
This pointy haired bastard runs casually through the forest, playing his instrument, not giving a single fuck to the dangers that lurk around him. That’s likely the case because he figured out a truth that may endow the phonon protocol with additional magical powers.
The team at L4 had been working for years on state channels. It seems the work was deprecated in favor of a plasma, then an optimistic rollup-type system. There is not a single elf that can yet fathom how optimistic rollups would work within the phonon protocol, but a generalized state channel may be feasible. Phon/ongod will hit the elvish pipe in the coming weeks and try to architect a large, multiparty optimistic rollup type system for phonon. No promises. No discounts!
The idea behind counterfactual instantiation is that two parties sign all the data that CAN enforce the outcome to specific events. If either party walks away or refuses to cooperate, the other party can pass the signed data to the chain and have the appropriate payment and balances updated.
In a phonon protocol context, this *may* provide a framework for two parties coming together to agree to bet on a game of chess: Both parties sign data that *would* instantiate a contract on Ethereum with logic to understand chess moves and a payout structure.
Phrens Rake and Rooster play their game on a phonon enabled app, after each move a new signature from the phonon private key against the data is generated. The state of the game is updated after each move, but only held in the application storage and never passed to Ethereum.
The game ends, Rake defeats Rooster, and both of their apps sign off on this truth.
At this point Phren Rooster can choose two options:
Rooster can pay Phren Rake the amount of the bet (ideal case) OR
Ever shysty Rooster can do nothing and force Rake to submit the last updated state (with his victory) to the Ethereum blockchain. This would instantiate a chess contract and would point to the balance of two deposits in a Phonon deposit smart contract. The instantiated smart contract would ingest the signed data (signed by both Rake and Rooster) which would call a withdrawal function from the phonon deposit contract. After a period of time (enough for Rooster to pass an even more updated version of the true outcome of the game of chess, if one exists) the payout would be made to the address Rake specifies.
Rake doesn’t want to have to take the transaction to chain. It is cumbersome and expensive to add a new contract to the chain that only results in a single payment being made. This adds to blockchain bloat and is bad for all Ethereum participants, but it does show how Ethereum can be the adjudication layer for the phonon protocol.
It would have to be made such that any phonon packet being used by an application for gaming can no longer be transferred to another card. The card would have to keep state of the fact that the phonon is encumbered to a two-party agreement and would then NOT allow the user to destroy the phonon container and emit the private key. Else after Shyster Rooster loses the game of chess, he could eject his phonon and move his funds before Rake has.a chance to make the on-chain claim.
This is a bit complex. Likely also, it works. This pheverdream is not designed to architect a brand new smart contracting system for phonon, but rather to inspire the minds of our community to realize that some of the limitations you imagine are not based on the reality of elves.
Wander the forest of future possibility at Phonon DAO.
Tips to phonongod.eth will be invested in bounties that advance the Phonon project.
Hatemail to phonongod@protonmail.com will be scathingly considered.
Targets for the marketcap of PHONON DAO remain:
$1b by Q2 2022, $12b by EOY.
On the high end, $300b marketcap in 3 years.