The perfect protocol for offline payments: 3-phase commit for continuous slow-acting penalty

This was stuck in moderation for two days, so everyone would have missed it. I think this is a very important discovery, so I share it here again. It is a video presentation of the perfect multihop payment protocol. https://www.reddit.com/r/ethereum/comments/1lmwc5c/3phase_commit_for_multihop_payments/

Historically, no “multihop payment protocol” has managed to fix all possible attack vectors. For the past 20 years, most modern systems use what I call “2-phase commit that cancels on timeout”. Ryan Fugger was an early pioneer of such systems, and he always planned for to solve a problem the protocol had (he planned to make the penalty “chunked”) but this was not possible to achieve without causing new problems. I managed to “transcend” that problem with the 3-phase commit I describe in the linked video.

With multihop payments perfected, Ethereum Raiden would be practical, as would Interledger or anything else (I am mostly interested in trust-backed multihop as what Ryan described 20 years ago already, but also good that Lightning Network or anything else could take off).