ipfs.txt

How does this use IPFS?
-----------------------

The interplanetary filesystem (IPFS) is a distributed and decentralized key-value store
where content is hashed and identified by the base58-bitcoin encoded hash as a key to access
that content. 

The EAC-v2 uses IPFS to store the transaction data so that we only have to keep the
hash of the content on chain thereby saving us a gigantic amount in gas costs. 

It works like this:
    1) User who wants to schedule a transaction prepares the parameters.
    2) The parameters are serialized into a standard format and sent to the 
       Scheduler contract on chain.
    3) The Scheduled contract deploys a new ScheduledTransaction contract 
       and stores the hash of the serialized parameters. We hash the serialized 
       paramters with `sha256` the same hashing algo that IPFS uses.
    4) The EventEmitter emits an event poiting to the address on the Ethereum
       blockchain of the newly deployed ScheduledTransaction. It can read the 
       storage of this contract for the relevant ipfs hash then recreate
       the correctly encoded key to find the transaction data on IPFS.
    5) The TimeNode accesses the data on IPFS and stores it locally on its
       own IPFS node, thereby increasing the decentralization of the data.
    6) On execution time (a parameter time node will read when it accesses
       the data for the first time) the TimeNode calls `execute()` on the
       ScheduledTransaction contract.

Notes: Because TimeNodes are incentivized to run via the `bounty`, we are 
also incentivizing them to be storing the relevant data to them and contribute
to the decentralization of the IPFS network.