Author: vjudeu at gazeta.pl 2022-02-28 07:55:29
Published on: 2022-02-28T07:55:29+00:00
A discussion on the bitcoin-dev mailing list explores the use of channel factories for onboarding new members to a layer 2 payment channel network, Lightning Network (LN). The challenge is to ensure that the fixed public keys required for channel opening are not known until after the channel has been confirmed on the blockchain. ZmnSCPxj suggests that channel factories meet this requirement as they can cut-through the closure of one channel factory with the opening of another channel factory with the same 5 fixed pubkeys *plus* an additional 100 new fixed pubkeys without making new signatures for the existing channels. The continuous operation of a sidechain requires a constant stream of 32-byte commitments, whereas continuous operation of a channel factory has 0 bytes per block being published. The downside of using sidechains for onboarding is that onboarding rate needs to be as fast as the rate at which people want to join Bitcoin and any security sacrificed to get a higher onboarding rate would be needless for extra capacity that cannot be utilized.
Updated on: 2023-06-15T16:40:38.319072+00:00