/biz/ - Business & Finance

The Lava Network’s purpose is to allow everyday users of 0xBitcoin (or other ERC20s) to spend and transfer 0xBitcoin without having to carry any ETH or even worry about the Ethereum Mainnet at all. This is done by using offchain ‘checks’ called ‘Lava Packets’.

These Lava Packets are composed of eight integers, which all fit into a Solidity method as input parameters. When this Solidity method is called, it is like someone is depositing a signed check in the bank: A monetary transfer of 0xBTC is done between account A (always the signer/spender) and account B. The relayer (Account C) who turned in the ‘check’ to the Ethereum Mainnet had to pay some Gwei to do this, and so also in the check is a small reward of 0xBTC tokens for the relayer. This is what incentivises the relayers to submit the signed Lava Packets to the smart contract.

You can play with this system at http://lavawallet.io 24 but you have to set your Metamask to Ropsten Network.

Here is the code for the contract:
https://github.com/0xbitcoin/lava-wallet/blob/master/contracts/LavaWallet.sol

Normies will be able to not have to know or even interface with ethereum.

http://forum.0xbtc.io/t/overview-for-the-lava-network/39

The Lava Network’s purpose is to allow everyday users of 0xBitcoin (or other ERC20s) to spend and transfer 0xBitcoin without having to carry any ETH or even worry about the Ethereum Mainnet at all. This is done by using offchain ‘checks’ called ‘Lava Packets’.

These Lava Packets are composed of eight integers, which all fit into a Solidity method as input parameters. When this Solidity method is called, it is like someone is depositing a signed check in the bank: A monetary transfer of 0xBTC is done between account A (always the signer/spender) and account B. The relayer (Account C) who turned in the ‘check’ to the Ethereum Mainnet had to pay some Gwei to do this, and so also in the check is a small reward of 0xBTC tokens for the relayer. This is what incentivises the relayers to submit the signed Lava Packets to the smart contract.

The Lava Network’s purpose is to allow everyday users of 0xBitcoin (or other ERC20s) to spend and transfer 0xBitcoin without having to carry any ETH or even worry about the Ethereum Mainnet at all. This is done by using offchain ‘checks’ called ‘Lava Packets’.

These Lava Packets are composed of eight integers, which all fit into a Solidity method as input parameters. When this Solidity method is called, it is like someone is depositing a signed check in the bank: A monetary transfer of 0xBTC is done between account A (always the signer/spender) and account B. The relayer (Account C) who turned in the ‘check’ to the Ethereum Mainnet had to pay some Gwei to do this, and so also in the check is a small reward of 0xBTC tokens for the relayer. This is what incentivises the relayers to submit the signed Lava Packets to the smart contract.

The Lava Network’s purpose is to allow everyday users of 0xBitcoin (or other ERC20s) to spend and transfer 0xBitcoin without having to carry any ETH or even worry about the Ethereum Mainnet at all. This is done by using offchain ‘checks’ called ‘Lava Packets’.

These Lava Packets are composed of eight integers, which all fit into a Solidity method as input parameters. When this Solidity method is called, it is like someone is depositing a signed check in the bank: A monetary transfer of 0xBTC is done between account A (always the signer/spender) and account B. The relayer (Account C) who turned in the ‘check’ to the Ethereum Mainnet had to pay some Gwei to do this, and so also in the check is a small reward of 0xBTC tokens for the relayer. This is what incentivises the relayers to submit the signed Lava Packets to the smart contract.

http://forum.0xbtc.io/t/overview-for-the-lava-network/39

The Lava Network’s purpose is to allow everyday users of 0xBitcoin (or other ERC20s) to spend and transfer 0xBitcoin without having to carry any ETH or even worry about the Ethereum Mainnet at all. This is done by using offchain ‘checks’ called ‘Lava Packets’.

These Lava Packets are composed of eight integers, which all fit into a Solidity method as input parameters. When this Solidity method is called, it is like someone is depositing a signed check in the bank: A monetary transfer of 0xBTC is done between account A (always the signer/spender) and account B. The relayer (Account C) who turned in the ‘check’ to the Ethereum Mainnet had to pay some Gwei to do this, and so also in the check is a small reward of 0xBTC tokens for the relayer. This is what incentivises the relayers to submit the signed Lava Packets to the smart contract.

>>9723533

http://forum.0xbtc.io/t/overview-for-the-lava-network/39

The Lava Network’s purpose is to allow everyday users of 0xBitcoin (or other ERC20s) to spend and transfer 0xBitcoin without having to carry any ETH or even worry about the Ethereum Mainnet at all. This is done by using offchain ‘checks’ called ‘Lava Packets’.

These Lava Packets are composed of eight integers, which all fit into a Solidity method as input parameters. When this Solidity method is called, it is like someone is depositing a signed check in the bank: A monetary transfer of 0xBTC is done between account A (always the signer/spender) and account B. The relayer (Account C) who turned in the ‘check’ to the Ethereum Mainnet had to pay some Gwei to do this, and so also in the check is a small reward of 0xBTC tokens for the relayer. This is what incentivises the relayers to submit the signed Lava Packets to the smart contract.

I’ll just Leave this here because some of you guys are OK.
http://forum.0xbtc.io/t/overview-for-the-lava-network/39