Author: Rusty Russell 2016-05-01 04:16:20
Published on: 2016-05-01T04:16:20+00:00
Rune Kjær Svendsen shared on bitcoin-dev about developing a protocol for payment channels that aims to standardize the operations of opening, paying and closing. The author has written up a specification of how it operates. In the past, refund Bitcoin transactions depended on another unconfirmed Bitcoin transaction, making the setup of payment channels risky. However, CHECKLOCKTIMEVERIFY now allows payment channel setup to be risk-free. Rusty encourages people to take advantage of this feature, especially with Segregated Witness expected soon.
Updated on: 2023-06-11T04:49:18.691673+00:00