Author: Stan Kladko 2017-12-13 16:10:49
Published on: 2017-12-13T16:10:49+00:00
In a discussion about Lightning Network, the issue of making outgoing channels private was raised. ZmnSCPxj, an expert in the field, responded that if one has only one outgoing channel then it does not have to be private, as there would be no other way for others to route through the node. However, if there are multiple channels, blocking all routing through the node could have benefits in terms of safety should the network go down. This would mean modifying the node software but still being able to enjoy the benefits of receiving and sending deposits. ZmnSCPxj also mentioned that accepting no incoming connections means that one's deposit is used by oneself only and not by other nodes. However, this means that one cannot earn money from routing fees. In addition, making outgoing channels private would prevent one from receiving money on-Lightning since people trying to send money to the node would not be able to find a route to it. Despite the potential advantages of keeping all channels private, ZmnSCPxj argued that, in the long run, it would be better to receive funds via Lightning as well. This would require making channels public and accepting both incoming channels and incoming money. By accepting at least a few routing attempts at a time, one can earn some fees and offset the fees on their own transactions. This leads to a more mesh-like network and avoids higher onchain fees. Overall, the decision to keep channels private or not depends on individual needs and goals.
Updated on: 2023-05-24T17:05:52.636821+00:00