Author: ZmnSCPxj 2018-02-04 21:41:10
Published on: 2018-02-04T21:41:10+00:00
Abhishek Sharma has proposed a modification to the Lightning Network, which allows for fewer channels to be open. The idea involves three parties committing their funds all at once and being able to move their funds between the three open channels if they have the permission of the counterparty to the channel they move their funds from. A rough example is given which illustrates how this could improve users' ability to route their transactions. The proposal would involve creating a special commitment transaction on the network that creates three open channels between each party with a pre-specified balance in each channel. After some time, when the channel balances are not sufficient for a transaction, one party can ask for permission to move funds from one channel to another, provided they have the permission of the counterparty. They then present this to the other counterparty to show that funds have been moved. When it comes time to close out their channels, all parties post the last signed balance statements each of them has. If any collusion is detected, all funds in all three channels are forfeited to the non-colluding party. Abhishek believes this mechanism can be useful as it allows for routing transactions that were previously not possible without opening new channels and waiting for network verification.ZmnSCPxj requests more details about the Bitcoin transactions, specifically regarding the on-chain anchor and the transaction that spends it. They also ask about the Lightning commitment transactions and if a graph of transaction chains can be drawn to ensure correct operation of the idea. ZmnSCPxj also points out Burchert-Decker-Wattenhofer Channel Factories and asks Abhishek to explain the difference between his idea and theirs.
Updated on: 2023-05-24T19:04:00.781138+00:00