Author: Ugam Kamat 2020-01-27 07:50:02
Published on: 2020-01-27T07:50:02+00:00
In order to ensure that the channel announced by nodes is actually locked on the Bitcoin mainchain, the outpoint of the funding transaction (txid and vout) must be verified. Failure to do so could result in nodes cheating others into thinking a transaction is confirmed when it is not. This information is broadcasted in the `channel_announcement` message’s `short_channel_id` field, which includes the block number, transaction number, and vout. Despite Bitcoin's lack of confidential transactions, channel capacity can be hidden while still allowing for verification. The potential problems with opening a channel without revealing its capacity publicly were not discussed.
Updated on: 2023-06-02T22:50:01.703725+00:00