Parallel Account Transactions

Learn how we facilitate parallel transactions for accounts

Summary

• Transactions on the platform are inherently atomic

• The iov42 platform can support multiple legs in a single atomic transaction

• Parallel account transactions are supported through a process called Distributed Asset Allocation (DAAL)

Overview

A Practical Byzantine Fault Tolerance (PBFT) over a 2-phase commit that reserves assets and facilitates multiple, overlapping transactions to be performed against the same account, while preventing double spending.

→ Example(s):

• Alice sends Bob her car and surfboard

• Bob sends Alice 20,300 euros

• Bob sends Carol his vintage electric guitar

• Carol sends Bob 5,000 euros

• Carol sends Alice her electric bike

• Alice sends Carol 1,500 euros

DAAL takes place during the second phase of the consensus reaching process. In determining the validity of a transaction, the voting nodes will reserve the appropriate balance against the account that submitted the transaction. In the case of unique assets, such as Alice’s car, the “balance” of this one asset is reserved. If there is an insufficient balance for a requested transaction, it will be rejected.

DAAL is analogous to what happens when you use your bank card during a shopping trip—you may use it multiple times throughout the day at different shops. As long as you have sufficient funds in your account, each transaction will go through, even if the money won’t actually be debited from your account until one or two business days later.