The Cycles whitepaper is out, introducing a new cryptoeconomic primitive: a peer-to-peer electronic clearing system.

Here's how it works: I owe you, you owe them, they owe me—we settle debts within our circle without any payments. If the amounts owed differ, we clear the smallest amount. Larger cycles save even more liquidity. The entire obligation graph and settlements are private and verifiable using ZK-TEE private computation and blockchains.

I came across @cyclesmoney and collaborative finance during our reading group with @buchmanster. Having reviewed the early version of the paper, I'm excited to see it finally released!

Bitcoin: a peer-to-peer electronic cash system.

Cycles: a peer-to-peer electronic clearing system.

Introducing the Cycles whitepaper 🧵 https://t.co/uNleKJP39V

Cycles

The Art of Exchange, The Science of Payments

Co-founder, Cosmos. CEO, Informal Systems. 

The Cycles whitepaper is out, introducing a new cryptoeconomic primitive: a peer-to-peer electronic clearing system.

Here's how it works: I owe you, you owe them, they owe me—we settle debts within our circle without any payments. If the amounts owed differ, we clear the smallest amount. Larger cycles save even more liquidity. The entire obligation graph and settlements are private and verifiable using ZK-TEE private computation and blockchains.

I came across @cyclesmoney and collaborative finance during our reading group with @buchmanster. Having reviewed the early version of the paper, I'm excited to see it finally released!

https://x.com/cyclesmoney/status/1859612788165099758