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minor improvements to chapter "Examining the good way - mutual close" (#192)
- closing tx, shutdown tx, etc: to avoid any confusion I took the "shutdown tx" out and simply named it the "on-chain tx" - replaced "party" with "channel partner" for consistency - removed "as many people think". If the book does a good job, not many people will think that ! In any case, this phrase does not help. Better to just state the facts. - etc
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@ -267,16 +267,16 @@ Whether you as a user implicitely close a channel or the Lightning Network softw
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===== Examining the good way - mutual close
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The preferred and good way to close a channel is the mutual close.
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When you decide that you want to close the channel, your Lightning Network node will inform your channel partner about your intention.
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When you decide that you want to close a channel, your Lightning Network node will inform your channel partner about your intention.
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Now the channel will be prepared for shutting down.
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No new routing attempts will be accepted from either channel partner and the ongoing routing attempts will be settled or removed after they timed out.
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Once no further routing attempts are pending, the closing transaction is prepared.
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This transaction is similar to the commitment transaction.
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It has the same balance as the commitment transaction but no outputs are encumbered with a time lock.
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As the finish up of the routing attempts could take some time, a mutual close can also take some time.
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The on-chain transaction fees of the shutdown transaction for closing the channel in a mutual way are being paid by the party who opened the channel and not as many people think by the person who initiated the closing procedure.
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As both nodes sign the shutdown transaction they have the chance to pay small fees for the Bitcoin transaction by using their on-chain fee estimator.
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Even though there is a potential waiting time, this type of channel close is usually faster than the bad way.
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It has the same balance as the last commitment transaction but no outputs are encumbered with a time lock.
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As finalizing the routing attempts can take some time, a mutual close can also take some time.
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The on-chain transaction fees of the on-chain transaction for closing the channel in a mutual way are being paid by the channel partner who opened the channel and not by the person who initiated the closing procedure.
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As both channel partners sign the on-chain transaction they have the chance to pay small fees for the Bitcoin transaction by using their on-chain fee estimator.
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Even though there is a potential waiting time, this type of channel close is usually faster than closing the bad way.
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===== Examining the bad way - force close
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In case your node cannot engage in a mutual close (most likely because your channel partner is either offline or not responding) you will have to do a force close.
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