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Questions tagged [lightning-network]

Proposed payment system leveraging payment channels which allow re-negotiation of balances that finally get executed on the Bitcoin blockchain.

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1answer
243 views

Why do we need SegWit (technical explanation)

After reading a lot of articles, whitepapers and videos I am still confused why do we need SegWit an Lightning instead of just bigger blocks. I don‘t want to debate Bitcoin vs Bitcoin Cash but what ...
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1answer
2k views

When closing the channel for LN - how to calculate the fee for the blockchain transaction?

To be clear: Following is not about fees in Lightning Network. Following is about fees on blockchain for transaction which closes the channel in LN. Channel closing transaction can be created months ...
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2answers
2k views

When running a Lightning Network hub, who pays the fees when a transaction has to be broadcast to the blockchain?

I've been educating myself on how the Lightning Network protocol works, and I have some questions. Let's say that a user sends a small payment to someone and it makes multiple hops through the ...
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1answer
510 views

Do relay nodes need to have money in order to relay transactions?

Imagine Alice wants to send 0.5 btc to Bob. They both open channels with Carol, a relay node that has no money. They create single funded channels each of 1 btc. Now Alice updates her channel to be 0....
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1answer
189 views

Double signature requirement of Breach Remedy Transaction

In the Lightning Network Paper (https://lightning.network/lightning-network-paper.pdf), Breach Remedy Transactions seem to require signatures by both channel members. I infer this from this ...
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1answer
292 views

On-chain scaling still required with Lightning Network?

I'm wondering if/how Lightning Network relieves us of on-chain scaling on the road towards mass-level adoption. As I understand, payment broadcasts are deferred to the point in which the channel is ...
5
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2answers
169 views

What does the Lightning Network UX look like?

I think understand the basics of how Lightning Network works. But what I'm failing to understand is how users will use this in a practical, day to day basis. Say I want to pay for my Starbucks coffee ...
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2answers
140 views

Blockchain Recent Scaling Proposals : (Sharding, blocksize , SegWit, GHOST, Lightning, multichains, sidechains, DAGs)

What are some recent scaling proposals worth note? (Continually Updated)
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1answer
332 views

lightning network dispute costs

I have some questions about Lightning Network. I'm already banned from r/bitcoin so I'm posting here. My first questions are about dispute costs: Lets say I open a payment channel on the lightning ...
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1answer
222 views

Lightning: why do we need decrementing timelocks in multi-hop payments?

The video (at 28:25) from the official Lightning website describes a multi-hop payment. I understand what a hash-locked contract is, but I still don't understand why we need a timelock aspect here. As ...
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2answers
458 views

Can Lightning Network be used for individual small transactions?

Today I went to use shapeshift.io to trade some BTC for IOTA. I only have a small amount of BTC, and I will only be performing a single transaction. Due to congestion on the network coupled with ...
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1answer
1k views

What is the timeline for Lightning Network's availability?

I have been reading a lot about this Lightning Network and what it does. But what I still don't know is if this Lightning Network is already being used for Bitcoin or when Bitcoin will start to use it ...
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1answer
59 views

How to prevent lightening network spend two times the balance?

If I choose off-blockchain transaction in Lightning network is it any mechanism to check wether balance covers mount of transaction? So is it, or isn't it possible spend two times the same amount of ...
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1answer
113 views

How can I start off-block transaction in LoafWallet?

Lightening network promise, basic principle is, transaction not need to add to blockchain but cumulate them and submit all together for a reduced amount of fee. How can I choose such an option in ...
3
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1answer
106 views

Duplex micropayment channels: criticisms of Lightning and implementation

A paper from 2015 by Decker and Wattenhofer proposes an interesting design for a payment channel network, which differs from the Lightning network. The authors claim in the Related work section that ...
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3answers
824 views

Why can't lightning network channels increase balances?

If A and B have a Lightning Network channel,it was opened with a funding transaction (say, 1BTC from both sides for 2BTC total). After A has spent some time transacting with B, the balance of the ...
3
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1answer
321 views

Lightning network: how was malleability actually fixed?

Section 3.1.2 of the Lightning paper (Version 0.5.9.2, last modified 14 January 2016) discusses ways to fix the transaction malleability issue, which prevented Bitcoin transactions from spending UTXO ...
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2answers
350 views

Lightning network: Are decrementing timelocks used in bi-directional channels?

I am surely not getting some part of this, but it seems to me that the paper and the video (both listed on the official Lightning website) contradict each other. In particular, the paper describes a ...
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1answer
84 views

Lightning network: how are “only X can broadcast” transactions implemented?

The Lightning paper states on page 12 (emphasis mine): This can only be enforced if one is able to ascribe blame for broadcasting an old transaction. In order to do so, one must be able to ...
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1answer
407 views

Lightning network explaination (bidirectional channel funded by one party)

Let's say Alice and Bob want a bidirectional lightning channel with common 2-2 multisig address C. Alice is the only one putting funds in, say 100BTC. They agree on nLock of these funds to be 30 days ...
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2answers
406 views

Lightning network smart contract technical explaination (unidirectional payment channel)

Let's observe direct unidirectional lightning channel between Alice and Bob. How does this start technically: They first create a 2-2 address C. They agree on the funds Alice will put into C, say ...
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1answer
548 views

Clarification of lightning network example (putting funds into lightning)

I'm checking How does the Lightning network work in simple terms? answer example: 1) Putting funds into Lightning We both send 0.5 BTC into a shared 2-of-2 multisig address. This requires a ...
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1answer
157 views

First step in understanding lightning network [duplicate]

I'm checking https://lightning.network/ and first paragraph of explanation says: Bidirectional Payment Channels. Two participants create a ledger entry on the blockchain which requires both ...
0
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1answer
113 views

What are the arguments for and against using the Lightning Network with Bitcoin?

In addition to the question in the title, when will Lightning Network go online, or, if there isn't a proposed date yet, what is a ballpark indication of when it might go online?
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1answer
203 views

What happen if a popular channel hub turns dishonest?

I've read and watched as many presentations as I could about the lightning network. I have a few questions about the economic model of the network. What would happen when a large hub turns nefarious ...
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1answer
4k views

How come the lightning network creators believe the fees will be zero?

In this article, Joseph Poon and Tadge Dryja say that they believe the lightning-network-fees would be less than 1 satoshi per node you transmit through, in practice. As far as I understand, you ...
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1answer
360 views

Is Lightning network a blockchain technology?

Does the Lightning network use blockchain? Is Lightning network still blockchain technology or not anymore?
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1answer
562 views

In the Lightning Network, what happens if a “middle node” suddenly goes dormant for a long while?

I think I have a general understanding of how the Lightning Network works. However, I was having a little difficulty in understanding what happens when a node in the middle of a "path" suddenly goes ...
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2answers
562 views

When using the lightning network, do you have to lock or deposit your coins somewhere?

Trying to understand the lightning network some more. When using this new 2nd layer on top of bitcoin. Do you lock your bitcoins on the lightning network so you can get "pegged" equivalent bitcoin ...
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1answer
87 views

Same entity controlling separated parts of a a lightning path

Given the lightning path Alice → Bob → Carol → Dave → Emilee (with Alice being the sender and Emilee being the receiver), assume Dave and Bob to be the same entity. By pulling funds from Dave to ...
2
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1answer
183 views

Which is the best LN software?

I know that software for the Lightning Network can only be used with testnet and not with real Bitcoin yet. I'm trying to choose one LN software among C-Lightning, ACINQ, AmikoPay, Thunder, Lit and ...
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1answer
226 views

Is lightning network censorship resistant?

I know this is a hot topic at the moment, and I really don't want to create some kind of debate here, i'm just interested in if this question is adressed. Any other place where I have spent time, it's ...
5
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1answer
231 views

Will all crypto-currencies exist on the same lightning network?

In the basic form, lightning-network is a chain of iou:s in one currency. But as far as I have understood, the plan is to put atomic swaps on lightning network. Will this mean that all currencies ...
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3answers
2k views

How is the lightning network secured against hacking and double spends?

As I understand payment-channels, like the lightning network, they are working off chain (no record in the blockchain). The only record to the blockchain is the deposit transaction to open the payment-...
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2answers
481 views

How do other nodes know my balance with LN?

Consider the following 3 nodes, A, B and C. At time t=0, A has 10 bitcoins. A sends 6 bitcoins to B. Then, A attempts to send 6 bitcoins to C. With on-chain transactions, the second transaction is ...
7
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1answer
908 views

How do I restore a Lightning Node with active channels that has crashed causing data loss? Is it similar to restoring a Bitcoin wallet?

If my lightning node crashes after receiving payments (but before I have closed the channel) can I recover my funds? What happens if I do not have backups of all the channel updates? Is the ...
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3answers
1k views

Does a segwit based side chain like the lightning network allow for fractional reserve?

I'm confused. I've watched the video The Lightning Network Explained (Litecoin/Bitcoin), and read the following comments by Craig Wright: This occurs because schemes such as segregated witness ...
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2answers
2k views

Is it possible to add funds to an already-open lightning network channel?

I would think that user A on a channel should be able to add bitcoins to a channel using the following steps: Create a transaction sending more money into the main multi-sig account Create a refund ...
6
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2answers
679 views

How do “trustless third-party watchers” work in Lightning Network?

The main point with LN is the need to monitor the blockchain. The reason for this is to detect if the counterparty misbehaves by publishing an old channel state to the blockchain. For a node running ...
9
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1answer
531 views

Would it be possible to send money through the Lightning Network to an offline address?

My understanding is that the current Lightning Network spec requires an address receiving money to sign things with its private key - which requires the owner of that key to be online. Are there any ...
8
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1answer
1k views

How does Lightning transaction revocation work?

I've been reading about the Lightning Network, and I feel like I alllllmost understand it, but I can't quite figure out how the revocation transactions are designed so user A can claim the channel's ...
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1answer
1k views

The cost of restarting a lightning channel

I have some questions about the cost of maintaining a lightning channel between two people. For this question, let's assume that the blockchain mining fee is $1 per transaction. Question 1: Suppose ...
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1answer
404 views

Security for Lightning Network nodes?

Imagine a Lightning Network node A that maintains a bidirectional payment channel with one peer B. For this channel to be maximally useful, some of its value must belong to A. To update channel state, ...
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2answers
3k views

Do parties in a Lightning Network channel need to be online?

I'm thinking of a scenario where users on mobile devices using a LN client will rarely be online. Let's say Alice opens a channel with Bob and they make 10 LN transactions. After Alice has received ...
5
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1answer
426 views

In a Lightning Network who commits to the blockchain the final transaction?

So let's imagine a Lightning Network made up of thousand of nodes. Transactions are routed until the moment comes where all the channels need to be closed and commited I presume. Which node actually ...
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1answer
204 views

How are transactions invalidated by nodes when both parties are offline in a Lightning Network?

Let's imagine Alice wants to send multiple transactions to Bob. Both Alice and Bob have open channels with Carol, not with each other: Alice <-> Carol <-> Bob So Alice first sends 0.01 ...
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1answer
456 views

Is the Lightning Network susceptible to man in the middle attacks?

It seems like a man in the middle attack could be performed in a Lightning Network. Let's say A opens a channel with B. If A manages to control all the connects B has to the bitcoin network (...
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2answers
3k views

Will lightning network efficiently support a single payment of 25 cents?

Suppose my website sells emojis for 25 cents a piece. And I get 1000 unique customers that each buy just one. Will lightning network or any other technology allow me to process these transactions ...
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2answers
2k views

Is lightning network limited by the 'size' of channels?

Imagine we start with multiple channels which eventually link two individuals, Alice and Rob: (the BTC amounts is the total locked in their multisig address for their channels between each other) ...
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1answer
62 views

Can Segregated Witness function in an Emergent Consensus environment?

Same as subject. I've been finding it difficult to find any discussion on the current Emergent Consensus implementation and theory, but I have seen reservations. Does it adversely impact the ...