Author: Mats Jerratsch 2015-09-23 07:56:08
Published on: 2015-09-23T07:56:08+00:00
The context discusses various aspects of the Lightning Network, including the number of beacons required and how to estimate the amount of Bitcoin needed for transactions. The network is abstracted towards two nodes at each end and several beacon nodes in the middle that do all the transacting. There is a discussion on the advantages of this scheme and the difficulty in finding a route towards these beacons. It is suggested that a reputation/web-of-trust system might be included in the network but there is concern over centralization. Basic peer discovery schemes like IRC or stable-nodes can solve the problem of connecting to the network.The possibility of squeezing more bytes out of the signature and pubkey is discussed. It is suggested that two signatures are required, one from each side, and a separate teardown message that needs only one sig. Reputation is stored with separate signatures which make it more difficult/costly to share the complete database with new nodes. The idea of using anchor transactions in the blockchain as a map of the network is proposed, but its implementation seems difficult.Finally, there is a mention of a simulation project for Lightning that will be able to deduce many properties and determine whether a reputation system is needed, among other things.
Updated on: 2023-05-23T20:17:16.786641+00:00