Author: Mats Jerratsch 2016-05-17 13:58:17
Published on: 2016-05-17T13:58:17+00:00
The Lightning Network developer has proposed a solution to the coupling problem between revocation delay and payment timeouts using SegWit. The idea is that each payment and refund does not directly pay to their respective owners, but to an intermediate 2-of-2 transaction. To redeem a payment, one has to use R to broadcast Redeem-TX, and for broadcasting Refund-TX, one has to wait for the agreed refund time. This makes it possible to set revocation delay and payment timeouts to completely separate values. However, there are two downsides to this approach: clearing a payment on the blockchain is more expensive, and updating the commitment transaction requires producing and sending a new signature for each currently included payment. Nevertheless, the developer believes that having a clean solution to the problem of high refund times and low revocation times is worth these trade-offs.
Updated on: 2023-05-23T23:43:58.645614+00:00