Author: ZmnSCPxj 2022-04-25 05:36:48
Published on: 2022-04-25T05:36:48+00:00
Zac Greenwood, a member of the Bitcoin-dev community, has cited Peter Todd's maxim that any change in Bitcoin must benefit all users and must have well-defined, transparent benefits. Greenwood believes that only those changes to the protocol that benefit layer 2 solutions such as Lightning Network (LN) and do not carry the potential for abuse by freeloaders selling commercial services on top of free eternal storage on the blockchain are acceptable. Responding to this, ZmnSCPxj points out that Check Template Verify (CTV) is usable in LN. He explains that instead of hosting all outputs directly on the commitment transaction, the commitment transaction outputs to a CTV-guarded SCRIPT that defers the real outputs. This approach is beneficial because it allows for only specific timed-out HTLCs to be published on-chain, thus mitigating the effects of unilateral closes which can cause cascades of channel closures during short-term block congestion. ZmnSCPxj believes that this objection to the use of CTV has been mitigated as it can benefit layer 2 users.
Updated on: 2023-06-15T19:14:59.338038+00:00