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The Execution Plan also gives FinP2P nodes Routers and the underlying DLT platforms greater control and visibility. They can approve, review, oversee, validate, and track the distributed and asynchronous execution of each plan. This ensures they can provide and confirm the necessary cryptographic proofs for each plan's progression and manage any edge cases effectively with all the relevant information.
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Determines the necessity of executing a plan instruction.
Executes the instruction, typically involving an operation on the underlying DLT platform.
Updates the Execution State of the plan, reflecting the instruction execution outcome. This update can include a transaction proof or a receipt on the DLT or, in the case of an error, the execution failure details.
Shares the updated Execution State with other involved parties.
The receiving parties then verify and approve the correctness of the Execution State and any newly added instructions. Subsequently, they authenticate the instruction receipts.
Depending on the DLT network, they may also perform FinP2P Verification with other nodes Routers accessing the same DLT to validate the transaction details on the original DLT.
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Failures at reversible points are identified in advance and integrated into the execution plan. Such failures could include scenarios like insufficient funds for trade execution on an Escrow transaction. In these situations, the execution plan triggers a compensating operation, such as a rollback, to return to a secure state. For instance, if a DVP transaction can't transfer funds due to insufficient balance (while the asset is on hold), the Asset Node Router executes a compensating rollback operation to release the asset from the hold.
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The APIs additions to the FinP2P protocol provide the nodes Routers on the network tools to coordinate by choreography various financial operation by providing endpoints to express Proposals of said operation to prospect participant and allowing the participant to indicate by Approve or Reject their willingness and ability to take part in the operation.
Utilizing an choreography model for operation allows for flexibility and robustness in the financial operation, the messages are sent between each participant to another thus creating a decentralized trust model where no node Router acts as a centralized governor of the execution plan lifecycle.
The Proposal-Approval\Reject model is extended further than the Execution Plan approval phase into the Instruction completion propagation where nodes Routers communicate with each other the completion of a plan instruction and its outcome, where the receiving nodes Routers of the completion must Approve or Reject the completion and propagate their decision to all other participant of the plan before the plan can progress to the next instruction.
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