Author: Dave Scotese 2019-10-04 01:37:33
Published on: 2019-10-04T01:37:33+00:00
Bitcoin developers are exploring the possibility of creating a shorter transaction that points to an existing, unspent output with a larger amount attached to it, instead of creating a new output. This would aggregate bitcoin to an unspent transaction output (UTXO) that may not be economically viable otherwise. The transaction would satisfy the script required to spend X1 and use fewer data bytes for spending X2 by simply pointing to the existing script. Additionally, this could increase the capacity of lightning channels without needing to close the existing channel and re-open a new one. However, the Lightning Network layer would need to handle the possibility of a "short channel ID" changing.
Updated on: 2023-06-13T21:50:54.780444+00:00