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wording, pronouns

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Patrick Lemke 2020-02-20 17:46:17 +01:00
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@ -216,8 +216,8 @@ Other than that and the fees for opening and closing a channel there comes no ad
Channel partners can agree to publicly announce the channel over the gossip protocol that comes with the Lightning Network.
This is useful as other nodes will then be able to utilize this channel to route payments to other participants of the network.
Note that even for private channels which are not announced over the gossip protocol, the funding transaction is always publicly stored in the Bitcoin blockchain.
However as it is just a regular transaction to a 2-2 multisignature address, participants of the Bitcoin Network do not know if this particular transaction is used to maintain a payment channel.
Private channel can still be used in routing payments but only by the subset of nodes who are aware of their existence.
However as it is just a regular transaction to a 2-2 multisignature address, participants of the Bitcoin network do not know if this particular transaction is used to maintain a payment channel.
Private channel can still be used in routing payments but only by the subset of nodes which are aware of their existence.
If a channel and its capacity is publicly announced on the gossip protocol, the channel partners will also be able to announce some meta data about the channel.
This meta data includes the routing fees a node charges to forward payments on that channel, information about what kind and how many Hash Time-Locked Contracts (HTLCs) will be accepted.
As we have not discussed HTLCs yet we will just mention that they are additional conditional outputs in the commitment transactions used for routing payments and for updating the channel balance.