Archives/lnbook
2
0
Fork 0
mirror of https://github.com/lnbook/lnbook synced 2024-11-04 18:00:26 +00:00
Code Issues Projects Releases Wiki Activity

wording

Browse Source
This commit is contained in:
Patrick Lemke 2020-02-20 17:45:58 +01:00
parent 8ced858996
commit e921214456
1 changed files with 3 additions and 3 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

6
ch03.asciidoc
View File

@ -197,9 +197,9 @@ A key characteristic of bitcoin is that once a transaction is valid, it remains
We will now see how such a penalty mechanism can be included to the above construction of the commitment transactions.
Usually the commitment transaction has at least two outputs, one for each partner.
However a channel partner will encumber their own output with a timelock and a revocation secret.
The timelock prevents the owner of the output to spend it directly once the commitment transaction was included to a block.
The timelock is usually measured in blocktime and can be up to 2016 which is statistically speaking two weeks (assuming a blocktime of 10 minutes which is the target for the Bitcoin Network).
Within the timelock anyone who knows a revocation secret can spend the output even well before the timelock was over.
The timelock prevents the owner of the output to spend it directly once the commitment transaction was included in a block.
The timelock is usually measured in blocktime and can be up to 2016 which is statistically speaking two weeks (assuming a blocktime of 10 minutes which is the target for the Bitcoin network).
Within the timelock anyone who knows the revocation secret can spend the output even well before the timelock was over.
Alice and Bob know only one half of the revocation secret but if they share their half with the other party, the other party knows the full secret.
In order to update the balance and receive a signature from Bob, Alice will have to share her half of the revocation secret of the current commitment transaction with Bob.