diff --git a/ch01.asciidoc b/ch01.asciidoc index fb72a2b..e10aa52 100644 --- a/ch01.asciidoc +++ b/ch01.asciidoc @@ -37,7 +37,7 @@ A key requirement for a second layer protocol such as Lightning (which will be d The `nSequence` field was intended to allow users to transmit updated versions of a transaction to the network, changing the outputs of a transaction, effectively creating a payment channel. Such a payment channel would then be valid as long as the transaction was not mined. -According to a mailing list post in 2013, by early Bitcoin developer Mike Hearn, Satoshi Nakamoto envisioned this construct for high frequency trading.footnote:HearnBitcoinDev[Mike Hearn on Bitcoin-dev - April 16th 2013 - Anti DoS for tx replacement http://web.archive.org/web/20190501234757/https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2013-April/002433.html.] +According to a mailing list post in 2013, by early Bitcoin developer Mike Hearn, Satoshi Nakamoto envisioned this construct for high frequency trading.footnote:HearnBitcoinDev[Mike Hearn on Bitcoin-dev - April 16th 2013 - Anti DoS for tx replacement http://web.archive.org/web/20190501234813/https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2013-April/002417.html.] 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 of 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, reducing the utility of this mechanism.