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ZIP 300: reformat preamble and headings. 

Signed-off-by: Daira Hopwood <daira@jacaranda.org>
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Daira Hopwood 2020-09-15 14:26:19 +01:00
parent 5d9e790e17
commit 14630b1c44
1 changed files with 15 additions and 12 deletions
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zip-0300.rst
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@ -1,25 +1,28 @@
**Title:** Cross-chain Atomic Transaction Standards
::
**Author:** Jay Graber
ZIP: 300
Title: Cross-chain Atomic Transactions
Owners: Daira Hopwood <daira@electriccoin.co>
Original-Authors: Jay Graber
Status: Proposed
Category: Informational
Created: 2017-03-08
License: MIT
Pull-Request: <https://github.com/zcash/zips/pull/123>
**Status:** Active
**Category:** Informational
**Created:** 2017-03-08
Abstract
===========
========
This is an Informational ZIP describing a proposed specification for a standardized protocol for performing cross-chain atomic transactions (XCAT) between Zcash and Bitcoin, or other Bitcoin-derived cryptocurrencies.
Motivation
===========
==========
A well-defined standard for performing cross-chain transactions would improve the liquidity of cryptocurrencies and be useful for third-party services, such as decentralized exchanges.
Specification
===============
=============
The proposed protocol for XCAT is a set of hash time-locked contracts across both chains, created by two parties who wish to do a cross-chain exchange.
@ -66,7 +69,7 @@ The two scenarios for spending funds from this second P2SH address are as follow
2. Fail case: Bob has not followed through on his part of the trade within the timeout period, so Alice sends her funds back to herself, canceling the transaction.
Timeout Periods
------------------
---------------
Having timeout periods on both transactions allows the XCAT protocol to work by enabling refunds in case a counterparty misbehaves. The example above uses a timeout period of 24 hours for the first transaction and 48 hours for the second, but these are simply suggestions. Actual timeout periods should be considered to be variables that depend on the following factors for any given implementation of XCAT:
@ -80,6 +83,6 @@ Note that using long time-locks in the P2SH scripts does not necessarily mean th
Rationale
===========
=========
Users are free to come up with their own protocols for cross-chain atomic transactions, but having a well-defined protocol would aid adoption and support third-party services wishing to provide such functionality.