Building a clearinghouse
An overview of the next steps to fully functional clearinghouse
What we'll build
So far, we covered the basic concepts and created our user (signer).
Here is an overview of the steps we need to make in order to have a functional clearinghouse set up on Minka Ledger system:
Glossary
Server
Server is a place where Minka Ledger system is running on. The server stores one or multiple ledgers. And each clearinghouse is represented with one ledger.
Ledger
ledger is a record to which everything we do will be connected to. Clearinghouse is the owner of the ledger and has complete control over what's happening inside it.
Symbol
symbol is a ledger record through which we will define a currency.
Wallet
wallet record is a place where all balances will be stored. Every RTP participant (bank) will have one. And also a clearinghouse will have one settlement wallet.
Intent
intent is a record that represents a transaction between wallets. And after an intent is created, signed, and validated (e.g. there are enough funds on the sending wallet), the wallet balance is also updated.
Signer
signer is a public & private key-pair that is used to authorize every action on the Minka Ledger. Every record created, every update, and every permission change needs to be signed with the private key (which you can store locally on your computer).
Next steps
This was a general overview of the system. Now it is time to start building it.
In our next lesson we will start by creating a ledger.