From cef9d85bdcba82e9482b547c65d62c4adb2eaeff Mon Sep 17 00:00:00 2001 From: Brian McMichael Date: Sat, 22 Feb 2020 20:39:14 -0500 Subject: [PATCH] Unclear what 'spent' means --- glossary.asciidoc | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/glossary.asciidoc b/glossary.asciidoc index ebb3022..1420dfa 100644 --- a/glossary.asciidoc +++ b/glossary.asciidoc @@ -98,7 +98,7 @@ c-lightning:: Implementation of the Lightning Network Protocol by the Victoria-based Blockstream. It is written in C. Closing Transaction:: - If both channel partners agree to close a channel they will create a spent of the funding transaction that reflects the most recent commitment transaction. + If both channel partners agree to close a channel they will create an exercise settlement transaction that reflects the most recent commitment transaction. It does not include any Hashed Time Lock Contracts or Revocable Sequence Maturity Contracts. After exchanging signatures for a closing transaction no further channel updates should be made, as this one allows one side to enforce the closing transaction on the blockchain. Mutually closing a channel with the help of a closing transaction has the advantage that less blockchain transactions are required to claim all funds, in comparison to unilaterally forcing a channel close by publishing a commitment transaction. Additionally, funds are for both parties immediately spendable from a closing transaction.