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Harris 2020-01-24 13:12:05 +01:00
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@ -71,8 +71,8 @@ Payment channels have a couple of very interesting and useful properties.
* As the time to update the channel is the only bound, making a payment within a payment channel is almost instant.
Bitcoin had to be about 5 years old until talented developers figured out how payment channels could be constructed and by now there are at least 3 different constructions known.
This chapter will only focus on the "Poon, Drayja" - Construction since it is actually being used in the Lightning Network and was first described in the Lightning Network whitepaper.
The other two constructions are the Duplex Micropayment channels which have been introduced by Christian Decker around the same time as the "Poon, Drayja" - channels and the "eltoo" - channels which have been introduced in 2018 by Christian Decker, Rusty Russel and our co-author Olaoluwa Osuntokun.
This chapter will only focus on the "Poon, Dryja" - Construction since it is actually being used in the Lightning Network and was first described in the Lightning Network whitepaper.
The other two constructions are the Duplex Micropayment channels which have been introduced by Christian Decker around the same time as the "Poon, Dryja" - channels and the "eltoo" - channels which have been introduced in 2018 by Christian Decker, Rusty Russel and our co-author Olaoluwa Osuntokun.
The later seem much easier to implement and to have a couple of nicer properties.
However they need a new OP_CODE to the Bitcoin scripting language and can currently not be implemented on top of the bitcoin mainnet.