My thoughts about the blockstack token wallet


Is it possible to set the stack token transaction fee totally free like iota or byteball?As developers,we really don’t wanna pay the high transaction fee to pay for the miners like bitcoin!!! It’s also waste time,iota and byteball have realized zero transaction without 3st verify.Can your token develop team use their tech architecture?And more ,I have a silly token transaction design as follows:

Status 1:( A and B are honest)

If jack wanna send 8 stack token to Tyler by “stack wallet”, he must has at least 8+80 token in his wallet,and Tyler must also has 88 token in his wallet, they take the same transaction risk(fraud risk).Step 1,Tyler click the receive button in the wallet then the wallet generates a new receive address and QR code(for instance:x0001), at the same time,the wallet program generates another deposit address and QR code (x0002) and an input box,then he must first successfully deposit 88 token to the public deposit address(x0002),these two address must be bound together, then the deposit address show frozen status .Step 2, Tyler send the deposit address x0002 and receive address x0001 to jack or post the two address on any webpage, when jack or Emily see the receive and deposit address, jack can click the send button in the wallet, and copy the two address in different input box to check the status, if Tyler is honest, jack will see the two address are bound together, and how much Tyler already deposited for this transaction,so, jack type 8 stack token to the receive address x0001 and at the same time,he must type 80 stack token to the deposited address x0002, and then he click the “start send” button.Step 3:the database ledger would delete 8 token record from jack’s account address, at the same time, database write 88+80 record into address x0002, and frozen address x0002 in not modifiable status in certain time(one year,two year or 200 year), and write 8 token record in address x0001 for Tyler.Step 4,so Tyler can see he receive 8 token in address x0001 and then click the release deposited address x0002(if he wanna get back his 88 token frozen address x0002),so,jack would see the address x0002 in certain status(Tyler already received the 8 token and clicked the release button) ,jack know it’s safe to click the release button from address x0002 for himself, so the transaction record is finished.and could be downloaded for every computer node .

Status 2:( A is fraud,or B is fraud)

If Tyler don’t receive any token from jack ,or he don’t wanna get back his 88 stack token, he would not click the release button from his side,and the address x0002 would be frozen status for ever,so ,Tyler lost 88 stack token,and jack also lost 88 stock token( he already sent 8 token to address x0001 and sent 80 token to x0002); jack cannot send 3, or 12 token to address x0001,because the frozen 88 token set the certain cap for address x0001) , before transaction ,jack only can think is it worth take the risk after he see the two address status in his wallet.

This method can be scaled to products or digital products transaction.If Tyler wanna sale a product ,a phone ,or house cleaning service,he can use the transaction status 1,he post the phone images or house cleaning service in Facebook or any website(Amazon ,eBay ,gumtree,etc),and below this post,he can paste two address(x0003 and x0004) in status 1) in his post details.If he wanna set the price 20 stack token, so like status 1,he must generate new deposit address x0003 and receive address x0004 in the “stack wallet”, and deposit 200 stack token inside successfully.If jack saw this post wanna buy this desk or house cleaning service,how much should he send ?First,he would type 20 stack token to address x0004,and deposit 180 token into address x0003,if both side are honest,this transaction would be like status 1,if Tyler is fraud ( he don’t deliver anything or deliver a toy phone to jack),jack would be angry,so jack can click the disagree release button.At the same time ,jack lost 200 token ,and Tyler lost 200 token(at least he get a toy phone).Another condition: jack is a fraud, in fact ,he receive the phone,and he don’t wanna get his 180 token back from frozen address x0003,so he click the disagree release address x0003, so Tyler would lost a phone and 200 frozen token,jack also lost 200 token (20 token in address x0004 and 180 token in address x0003) and get a real phone,if jack not satified with the phone(color,or some stuffs) ,he would talk to Tyler about the situation,until they get a consensus,he would click the agree release frozen address ,the ,this transaction like status 1.

About miners: they can mine the stack token,but don’t have the rights to verify transaction,


@muneeb @jackzampolin