Author: Rusty Russell 2015-09-25 01:11:02
Published on: 2015-09-25T01:11:02+00:00
In a recent email conversation, Rusty has shared some updates on the Close and HTLC rejection scenarios in Lightning Network. The new update includes an additional ACK stage for close which confirms that the close ack has been received. The HTLC rejection now handles cases such as bad route and insufficient fees. A protocol error is generated, if a new HTLC is proposed which will cause the commit tx to be malformed. Rusty also talked about placing an upper bound of 0.04 BTC on each HTLC, which is more than enough to cover micropayment uses of lightning. According to him, early adopters are going to be microtransactions. They build the network, stress-test us, and let us learn without risking too much. Rusty suggests that setting expectations at "beer money, not rent money" will hopefully spread. He also shares that his reference implementation refuses to create a channel which would overflow this limit. Rusty recommends reading one of the "I was Goxxed" reddit threads for some heartbreaking perspective on what happens when innocent people get caught up in hype.
Updated on: 2023-05-23T20:50:06.048379+00:00