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Questions tagged [micropaymentchannels]

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3
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1answer
51 views

What is the cost of resolving a Lightning channel breach?

If someone breaches a Lightning channel (aka tries to spend more than he is allowed to), the other party has to intervene and prove that the coins actually belong to them. This process happens on-...
0
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1answer
45 views

Required conditions to be selected as intermediary node (Payment Service Provider) in Lightning Network?

I bring up some important questions about terminology of the Lightning Network and how to select the intermediary node as the Payment Service Provider in a routing channel: The following video (Link ...
2
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1answer
34 views

How to obtain the Channel_ID from the Short_Channel_ID?

Is there a way to retrieve the Channel_ID knowing the Short_Channel_ID without using any lightning network explorer? How is the Short_Channel_ID calculated? Is this operation reversible?
1
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1answer
36 views

off-chain payment channels: Do we need to trust “Payment Service Providers”?

A paper entitled: "Privacy in Bitcoin Transactions: New Challenges from Blockchain Scalability Solutions" has tried to investigate privacy issues of the Bitcoin influenced by the solutions for ...
0
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1answer
99 views

How to close stale lightning channels with c-lightning

I was running a lightning node using c-lightning about 9 months ago. Unfortunately the server was shutdown while a few channels were open. I have restarted the server and updated c-lightning to the ...
0
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1answer
84 views

How to send a payment through a route saved in a json?

From lncli network=testnet sendtoroute -h: NAME: lncli sendtoroute - send a payment over a predefined route USAGE: lncli sendtoroute [command options] [arguments...] DESCRIPTION: Send a payment over ...
2
votes
1answer
85 views

How to send payment through a predefined route?

Attempting a payment through a predefined route using: lncli -network=testnet queryroutes 02e34c1b4c5f8e7419cf4d10e3bc9651d46dc1af68df6a7b81a24951a9192aa9c4 25000 | lncli -network=testnet sendtoroute ...
1
vote
2answers
124 views

Connecting to a node and opening a channel

What is the difference between connecting to a node and opening a channel with a node in the lightning network? What are the events happen when I just connect to a node?
2
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1answer
72 views

Do I have to pay Fees on the Lightning Network if there is a Payment Failure?

Lightning nodes are talking fees for routing a payment. Will fees be charged anyway if a payment fails?
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2answers
155 views

How to fund a bidirectional payment channel?

Assuming two users want to create a bidirectional channel between themselves such that user_1 wants to pay 2 BTC to user_2 at the end and he divides this amount into 10 micro-payment (each micro-...
1
vote
1answer
51 views

Implementing an “ad-hoc-like network of payment channels” on top of Bitcoin network?

If we define an ad-hoc network as follows: "An ad hoc network is a network that is composed of individual devices communicating with each other directly." [1] ad-hoc networks do not rely on ...
0
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1answer
91 views

Why do we need a “routing” process in Lightning Network?

If I am wrong, please correct me. If we simplify Lightning Network, it seems to work similar to this simple unidirectional payment channel between two parties (although, Lightning Network is a ...
0
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1answer
61 views

“state channel” v.s “micro-payment channel” : are they the same?

We use "micro-payment channels" such as "Bitcoin Lightning Network" or "Duplex Micro-Payment Channels" for saving transaction fee, accelerating payments, supporting better micro-payment and scaling ...
0
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1answer
75 views

What are the pitfalls of repurposing the nLocktime field for backward compatability in eltoo?

In the eltoo proposal for paymentchannel management with less overhead proposed by Christian Decker et al. the update transactions need to be ordered. In chapter 4.1.2 of the proposal it is described ...
0
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1answer
128 views

Sweeping funds from addresses generated by Extended Private Key (BIP39)

I have a site that is trying to process micropayments. It uses a mnemonic / extended private key generated here to generate a new Bitcoin address for every payment. Everything works fine except I'm ...
0
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1answer
84 views

BIP Difference between final and active

What is the difference in the Bitcoins Improvements Proposals between the final status and the active status? According to the wiki An Proposed BIP may progress to Final only when specific ...
4
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1answer
150 views

How the disposable private keys are being shared in Lightning Network?

From the Lightning Network paper: ... once an updated commitment transaction is agreed upon, the previous commitment transaction pair is revoked by sharing the private keys needed to redeem those ...
4
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1answer
455 views

Who pays the miner fees for the closing transaction of a payment channel?

For single-funded channels, I understand the miner fee for the the transaction that is opening the channel is paid by the actual party wanting to make a payment. However it's unclear who will ...
4
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2answers
140 views

Payment channels with dynamic signatures

Talking about single-funded payment channels, the idea is quite simple: Alice puts 10 btc into a multi-sig signed with Bob, and then they each update the state accordingly to send money to each-other ...
3
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1answer
187 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 ...
3
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1answer
96 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 ...
4
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1answer
83 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 ...
4
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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-...
2
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2answers
100 views

Is there some way to add a third party authorizer to (or by) a lightning network transaction?

I'm not asking for "multisig on the lightning network", but I'm more curious about how one would set up shared control over lightning network transactions in general. Imagine we don't have a ...
0
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1answer
26 views

Payment Channels - Securing the private key that locks client funds

Do I need to secure an automatic generated private key used for locking an anchor transaction (the one that opens the channel, locking the client funds), since it only serves that locking purpose (not ...
2
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1answer
263 views

why is double-spend not an issue for payment channels?

Micropayment Channels (MPC) cannot be used currently because of transaction malleability, I hear. AFAIK, people saying that have in mind that the refund & payment tx, which have as input the ...
5
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2answers
469 views

Are Micropayment channels still subject to malleability after BIP65?

After BIP 65, are simple, unidirectional, MPC still subject to transaction malleability? More specifically: Is the payee at risk because of malleability? If yes, how? (as far as I understood, the ...
5
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1answer
556 views

Wallets that support payment channels?

I know that maybe it's a bit early to start asking Wallets to implement Lightning Network connections even if the majority don't support SegregatedWitness yet. But how about Payment Channels? In ...
1
vote
1answer
121 views

micropayment channels, n-m addresses, interoperability

I just read bitcoinJ's working with contracts tutorial and I am puzzled as: it seems to me that n-m addresses are implemented in Bitcoinj using plain multisig (as defined in this bit of the developer'...
6
votes
1answer
398 views

How are Lightning network, duplex channels, and micropayment channels related?

I'm new to Bitcoin and just became familiar with Micropayment channels. But how exactly do they relate to: Lightning network Duplex Micropayment Channels ? I am reading about these but can't find a ...
4
votes
2answers
130 views

Micro-payments definition and ideal platform

Have developers come close to reaching a consensus on either: The definition of micro payments? Whether micro-payments ideally belong on the main chain or side chains?
1
vote
1answer
69 views

How is a transaction verified in a micropayment channel?

Let's say Alice opens a micropayment channel with Bob and sends $10 into the multi sig transaction. How do we know that Alice has those $10? Or are we taking the risk of her double spending it?
5
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2answers
427 views

Does Ethereum support the features necessary to create the Lightning Network?

The Lightning Network of micropayment channels is a concept first conceived by Joseph Poon and Thaddeus Dryja. It requires a few features of bitcoin that are not available yet. OP_CHECKLOCKTIMEVERIFY ...