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Author Topic: Lightning Network Channels  (Read 454 times)
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January 26, 2018, 06:07:20 AM
Merited by achow101 (2), ABCbits (1)
 #21

I have basic information about Lightning Network :
the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians(not broadcast to the blockchain).[1]
people can fund them channels (like fees) which can change constantly.


what will happens if a lot of people fund them channels at the same time?.
Will back to the same problem (high fees)?.
also, creating large payment channels can support decentralization?

what called "Channel" in LN is nothing more than a time-hash-locked on-chain transaction, programmed to return/ be canceled at any given time before it expires. "Funding" is the amount of that transaction. I.e. opening a channel means locking funds into a state where it's undecided who will be capable to spend those. It is important to understand that when saying opening channel, we actually mean "creating standard on-chain bitcoin transaction". Therefore every "channel" exists on blockchain so when speaking about "same time" means "in same block" at best.
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