Author: ZmnSCPxj 2017-12-21 08:12:44
Published on: 2017-12-21T08:12:44+00:00
In the Lightning-dev mailing list, a new idea has been presented by Jim Renkel to reduce the number of blockchain transactions used by the LN and the fees paid to confirm them. He suggested an operation to deposit and withdraw funding in the channel to and from the blockchain without closing the channel, which could significantly reduce the number of blockchain transactions required. The adjustment transaction is never bigger than the closing and re-opening transactions put together and sometimes smaller. This reduction in fees is by an additive amount, and the fee rate can be reduced, reducing the fee paid by a multiplicative amount. ZmnSCPxj then mentioned the "splice in/out" protocol that will exist in BOLT 1.1. If splicing-in is involved, there is the possibility that inputs are forcibly double-spent while the splicing transaction is unconfirmed, so the channel cannot be safely used until the splicing transaction is confirmed. The asynchronous splice-in protocol involves two transactions but can use the channel as soon as splice protocol completes, whereas synchronous splice-in involves only one transaction, but the channel cannot be used until the splicing transaction is confirmed.
Updated on: 2023-05-24T17:47:14.358892+00:00