Author: ZmnSCPxj 2021-06-20 00:53:58
Published on: 2021-06-20T00:53:58+00:00
The sender of a transaction can offer a fee to take a specific transaction on the next block proposal. All unconfirmed transactions, including Main Transactions (MTs) and Guarantee Transactions (GTs), should be treated as potentially replaceable. The receiver must be a signatory to any unconfirmed transaction in an off-chain protocol. The smallest n-of-n that is still useful is 2-of-2, where one participant is a sender and the other is a receiver. Lightning Network splits Bitcoin into lots of little 2-of-2 cryptocurrency systems (channels), using HTLCs to transfer value across them. Channel Factories hosting Lightning Channels can further reduce blockchain resource consumption.
Updated on: 2023-06-14T22:54:33.786502+00:00