Author: micaroni at gmail.com 2021-07-10 05:55:55
Published on: 2021-07-10T05:55:55+00:00
The author proposes a new Lightning Network (LN) invoice pattern that contains a Bitcoin address for on-chain transfer as backup. The motivation behind this proposal is to have an app wallet that works in a totally abstract and transparent way on-chain and/or LN depending on the situation. While Phoenix wallet almost achieves this, there is still a certain LN/on-chain distinction that confuses users. The author uses Phoenix daily and experienced payment failure while trying to pay a friend. After several attempts, they managed to transfer to Breeze and then from there finally able to transfer to the final destination. For some reason, it had no liquidity on the specific route. These exception cases greatly confuse non-expert users. If on the invoice that the friend sent, an embedded Bitcoin address would have been present, the wallet could simply ask to send it on-chain in case of payment failure at XPTO fee rate. This will provide an immediate on-chain backup alternative, useful especially when rates are low. The author provides an example format for the proposed invoice pattern.
Updated on: 2023-06-03T05:05:34.092526+00:00