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Results tagged with lightning-network
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user 121614
A peer-to-peer payment system leveraging unbroadcast pre-signed transactions to track user balances.
1
vote
Accepted
Does the Lightning Network have an equivalent to "Proof of burn"?
The Lightning Network is just a collection of two-party agreements on the latest channel state, and these agreements are represented by pre-signed force-close transactions which pay each party their o …
- 10.4k
6
votes
Why is the default LN channel limit set to 16777215 sats?
The goal was to limit the amount any individual adopter would lose due to bugs in the software. As explained by LN developer Rusty Russell in #bitcoin-lightning FAQ: Why the 0.042 bitcoin limit?:
I g …
- 10.4k
1
vote
LN nodes with no network addresses
Lightning nodes do not need to advertise an external IP address. This does prevent other nodes from connecting to you, but you can still connect to other nodes (as long as they have a public address) …
- 10.4k
2
votes
Accepted
Can I connect my LND to someone else's bitcoin node?
LND connects to Bitcoin Core's JSON-RPC interface, it doesn't use the peer-to-peer protocol. Thus, publicly reachable Bitcoin nodes will be useless unless they also expose the RPC interface, which the …
- 10.4k
1
vote
Does the payment for both parties are settled instantly in Lightning Network
The time lock mechanism in uncooperative channel closes exists to create a dispute period during which the other party (or a watchtower on its behalf) can publish the "penalty transaction" and claim a …
- 10.4k
0
votes
How do zero-conf channels work?
You can have a trustless zero-confirmation channel if it's funded from a 2-of-2 multisignature address and each party has one of the private keys. As far as I can tell, any other setup requires trusti …
- 10.4k
1
vote
What would happen to a LN channel if one of the parties followed a minority fork of Bitcoin?
A LN channel (in its current form) is a 2-of-2 multisig UTXO coupled with pre-signed transactions each channel party holds onto, either to force-close the channel or to punish the other party for publ …
- 10.4k
4
votes
Accepted
Muun Wallet - All Funds Stored On-Chain?
At the time of writing this, Muun does indeed store all balance on-chain. It does not open any Lightning channels and instead uses submarine swaps for Lightning payments, which means it has to make an …
- 10.4k
1
vote
Accepted
How to run bitcoind and lnd on separate machines on the same network
According to the logs, your lnd is trying to access the bitcoind RPC interface at the default http://localhost:8332, which only works if you have bitcoind running on the same machine. For a remote ins …
- 10.4k
3
votes
If the Lightning Network is so great, why is it "level 2", not stable and not built into Bit...
Lightning Network, as it's described, seems to solve all the problems with Bitcoin.
That's not true. I would even say that Ligntning Network doesn't on its own solve any of Bitcoin's problems, but i …
- 10.4k