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Results tagged with lightning-network
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user 8717
A peer-to-peer payment system leveraging unbroadcast pre-signed transactions to track user balances.
9
votes
2
answers
4k
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 t …
- 5,242
5
votes
1
answer
1k
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 eventu …
- 5,242
2
votes
1
answer
110
views
Can Lightning work without the "network" part?
Let's imagine a minimal version of the Lightning network with a single "central" lightning node (say a service provider which we can call a Server) surrounded by thin clients (the actual users potenti …
- 5,242
1
vote
1
answer
302
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 BTC to Bob. S …
- 5,242
6
votes
1
answer
498
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 t …
- 5,242
7
votes
2
answers
1k
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 o …
- 5,242
2
votes
1
answer
630
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 …
- 5,242
3
votes
2
answers
207
views
How will the Lightning Network handle most money being pushed towards specific nodes?
Are there simulations of scenarios taking into consideration that most payments in LN will go into specific nodes (say, Amazon or Ebay)? The majority of payments we make are not towards our friends, b …
- 5,242
4
votes
2
answers
217
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 …
- 5,242