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ch01: reference deferred settlement in sequencing section

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Olaoluwa Osuntokun 2019-12-10 21:10:42 -08:00
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@ -33,7 +33,7 @@ ____
While James A. Donald was probably referring to maintenance of the unspent transaction outputs (UTXOs) database, it quickly became clear that the need for all participants to verify and propagate all transactions in the network would become overly burdensome. While James A. Donald was probably referring to maintenance of the unspent transaction outputs (UTXOs) database, it quickly became clear that the need for all participants to verify and propagate all transactions in the network would become overly burdensome.
A key requirement for a second layer protocol such as Lightning (which will be described in greater depth later in this book) is the ability to sequence transactions external to the blockchain. In the first versions of Bitcoin, Satoshi Nakamoto recognized this and introduced a data field called `nSequence` into the input transaction data. A key requirement for a second layer protocol such as Lightning (which will be described in greater depth later in this book) is the ability to sequence transactions external to the blockchain (for deferred settlement). In the first versions of Bitcoin, Satoshi Nakamoto recognized this and introduced a data field called `nSequence` into the input transaction data.
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. 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. Such a payment channel would then be valid as long as the transaction was not mined.