Author: Hector Chu 2015-08-09 20:48:41
Published on: 2015-08-09T20:48:41+00:00
The conversation between Mark Friedenbach and Hector Chu revolves around the Lightning network, its limitations and functionality. Hector asks if the Lightning system is limited in the number of hops there can be in a payment channel, as it seems like the locktime decrements by 1-day along each hop, potentially locking up bitcoins for longer periods. Mark explains that child pays for parent and that future sighash modes implemented in the checksig2 operator lightning needs to enable adding inputs to provide additional fee. On the other hand, Tom Harding raises concerns about Bob receiving money using the Lightning Network. In order for Bob to receive funds, his payment hub must have made a deposit to the channel. This credit has no default risk but also means that Bob cannot take payment hub's deposit unless payment hub has advanced it to the channel. There are two possible sources of funding for Bob's increased claim: a deposit from Bob's payment hub or Bob's previous spends. However, the latter incentivizes centralization and consolidation of spending and income in the same payment channel. Overall, the conversation highlights the potential limitations and dependencies of the Lightning network, as well as its incentive structures and implications for centralization.
Updated on: 2023-06-10T19:04:07.698161+00:00