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Lightning Network uses Revocable Sequence Maturing Contracts.

The LN Paper specifies that:

If one wishes to permit revocable transactions [...] the output transaction construction would remain a 2-of-2 multisig:

2 Alice1 Bob1 2 OP CHECKMULTISIG

However, the current implementation uses elliptic curve point multiplication (not multisig). I have found this information in BOLT03 - to_local, but also here.

The benefits of the current approach are:

  • smaller size of the Output Script
  • only one signature required to unlock (vs 2 in the original spec)

Are there any other considerations besides these two for using elliptic curve point multiplication instead of multisig?

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  • The output referred to in your citation from the paper is the funding transaction output, which is still the same: github.com/lightningnetwork/lightning-rfc/blob/master/…. The commitment transaction (RSMC) spends this output to one or more outputs.
    – Mark H
    Feb 15, 2021 at 16:05
  • Thanks Mark! I'm still trying to fully understand the LN Paper. But I think it does not refer to the funding transaction output, it does not make much sense in the given context. Either way, do we know if originally the revocation was a multisig and then changed to eliptic curve point multiplication, and why?
    – Vlad Stan
    Feb 16, 2021 at 8:51

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