Dan Robinson: Rainbow Network '" Off-Chain Synthetics Exchange or 'Multicolored Lightning'

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We're joined by Dan Robinson, a research partner at Paradigm, and the author the 'œRainbow Network' paper. The paper describes an off-chain decentralized synthetics exchange which leverages payment channels. The Rainbow Network is based on the idea that 'œrainbows are basically just multicolored lightning,' borrowing from the concepts used in the Lightning Network. The protocol relies on trusted oracles and allows participants to trade any type of liquid asset off-chain. All that is necessary to complete a transaction is an on-chain payment channel collateralized by a single asset. Though it is still at the idea stage and has yet to be implemented, the Rainbow Network could have applications in prediction market and as a new type of decentralized exchange.

Topics discussed in this episode:

• Dan's background as a securities layer turned coder
• His trajectory from working at Chain, to spending some time at Stellar, to joining Paradigm Fund
• His involvement in the development of the Plasma Cash and Plasma Debit protocols
• Thoughts and criticisms of using HTLC's in Lightning
• What is the idea behind Rainbow Network and how to understand it in the context of Lightning
• What are synthetics assets and the ability to trade multiple assets in a single payment channel
• The ability to have leverage in a Rainbow channel trade
• Next steps in research and implementation
• Dan's contribution to the Ivey 'œsmart contract' language for Bitcoin

Links mentioned in this episode:

• Rainbow Network white paper
• Ivy Playground for Bitcoin
• Mirror project
• Paradigm
• Dan Robinson on Medium
• Dan Robinson on Twitter
• Interchain Conversations Berlin event '" use code EPICENTER for discounted tickets
• Cosmos Hackatom Berlin

Sponsors:

• Cosmos: Join the most interoperable ecosystem of connected blockchains
• Azure: Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks

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This episode is hosted by Sebastien Couture & Sunny Aggarwal. Show notes and listening options: epicenter.tv/289

via The Let's Talk Bitcoin Network https://letstalkbitcoin.com/blog/post/epicenter-dan-robinson-rainbow-network-offchain-synthetics-exchange-or-multicolored-lightning