Spelling fixed

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Andreas M. Antonopoulos 5 years ago
parent 7bfb8a0bd8
commit 4c58bd5d17

@ -33,7 +33,7 @@ According to a Mailinglist post in 2013 by early Bitcoin developer Mike Hearn, S
However, there were some weaknesses in this initial formulation that limited its potential. Firstly, the payment channel would only be open until the transaction was mined in a block, either limiting the duration the payment channel or handing control of the payment channel to the miners. Secondly, there was no economic incentive for miners to respect the `nSequence` number, rendering this mechanism effectively useless.
The Revocable Sequence Maturity Contracts (RSMC), which formed payment channels in the first version of the Lightning Network, reference in their name the fact that they fixed this weakness of the `nSequence` field.
This is achieved by creating an economic incentive via a penalty mechanism; otherwise, the most recent transaction or update in the payment channel is published to the Bitcoin network, and becomes enforcable in this way.
This is achieved by creating an economic incentive via a penalty mechanism; otherwise, the most recent transaction or update in the payment channel is published to the Bitcoin network, and becomes enforceable in this way.
// find / add sources for some of the claims
In July of 2011, on the bitcointalk.org forum, a pseudonymous user by the name of _hashcoin_ suggested using Timelocks via the `nLockTime` function of the Bitcoin network to solve the custody problem of exchanges.footnote:[Hashcoin on Bitcoin talk on July 4th 2011 - Instant TX for established business relationships (need replacements/nLockTime) http://web.archive.org/web/20190419103503/https://bitcointalk.org/index.php?topic=25786.0]

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