Published on: 2015-12-16T05:01:37+00:00
The email thread between Mark Friedenbach and Rusty Russell discusses the estimated transaction times for Lightning Networks. Despite efforts to maintain decentralization, there is expected centralization pressure due to the desire for low latency transactions. The average user can expect a 10-hop payment to take between 1-2 seconds, with inner-hops primarily between Tier-1 datacenter nodes selected based on network proximity. Payments closer in proximity would take under a second to complete. In a network consisting entirely of last-mile endpoints geographically distributed around the world, the worst-case transaction time would be about 10 seconds, which is feasible for Point of Sale (PoS) transactions.Rusty Russell provides an estimation assuming established channels already exist. He suggests that in a large lightning network, one could expect up to 10 hops with 3 round-trip times (RTTs) per hop. This translates to approximately 30 RTTs or up to 10 seconds for the provider to receive the payment. It is worth noting that Russell's bitcoin node latency averages at 330ms in Australia.The Lightning network aims to keep transaction latency low while maintaining decentralization. However, some centralization pressure is anticipated due to the desire for low latency transactions. On average, a 10-hop payment is estimated to take between 1-2 seconds, with inner-hops predominantly occurring between Tier-1 datacenter nodes selected based on network proximity. Payments closer in proximity can be completed in less than a second. Even in a network composed entirely of last-mile endpoints distributed globally, the worst-case transaction time would only be around 10 seconds. Rusty Russell provides an example of a "Consumer - Relay - Provider" scenario with 2 hops and estimates that up to 10 hops in a large lightning network may result in around 30 RTTs or approximately 10 seconds of transaction time.The article further delves into the time it takes for a provider to receive payment in a simple case of "Consumer - Relay - Provider" with 2 hops. The assumption is that established channels are instantaneous, and the payment solely accounts for network latency. The process involves the consumer offering a contract to the relay, who then presents it to the provider. The provider closes the contract with the relay, and subsequently, the relay closes the contract with the client. This process entails three round-trip times (RTTs) per hop, resulting in approximately 30 RTTs for ten hops in a large lightning network. Considering Russell's bitcoin node latency average of 330ms in Australia, the entire process would take around 10 seconds.In response to a question posed by Twitter user @DenGorbachev regarding the time it takes for a provider to receive payment in a simple case of "Consumer - Relay - Provider" with 2 hops, it is unclear which specific payment system or platform is being referred to. The question assumes a scenario where two intermediaries exist between the consumer and the provider, but no further details are provided regarding these intermediaries or their roles. Without additional information, it is challenging to provide an accurate answer to the question.
Updated on: 2023-07-31T18:44:07.385026+00:00