Author: ZmnSCPxj 2017-05-20 00:03:20
Published on: 2017-05-20T00:03:20+00:00
The Lightning Network protocol may be modified to change the advertising of proportional routing fees to BTC-to-BTC exchange rates, according to a proposal by ZmnSCPxj. Currently, nodes advertise supported coins via the hashes of their genesis blocks and an exchange rate denominated in ratio of 1/1,000,000 can be encoded in four bytes. To advertise exchange rates, a node provides 64 bytes to identify the coins being referred to and four bytes for the actual exchange rate. For cross-chain exchange rates, a node needs to advertise both directions. One way to advertise would be to advertise a BTC-to-LTC exchange rate plus a rate offset. If approved, network users will have to compute the exchange rate to determine the amount they need to send.
Updated on: 2023-05-24T01:55:17.720854+00:00