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Author Topic: [LN] closing a payment channel  (Read 53 times)
Husires
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February 04, 2018, 04:42:10 PM
 #1

From what I understand:
If A wants to send to B. he must pay the opening fee of the transaction channel.
After opening the channel and sending the transaction.In the meantime, B is not allowed to send until after the completion of the transaction B can send.
How to calculate the closing fees of the channel "Single and multiple channels"
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February 04, 2018, 07:30:17 PM
 #2

First, I think this thread belongs to Bitcoin section not here in Meta,
Second, after a quick check with google here is a link with a similar question, hope you can find the answer there:
https://bitcoin.stackexchange.com/questions/66768/when-closing-the-channel-for-ln-how-to-calculate-the-fee-for-the-blockchain-tr
If you try to google a little more you may find more answers.
Hope this will help you.

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February 05, 2018, 09:27:06 AM
Merited by achow101 (2)
 #3

From what I understand:
If A wants to send to B. he must pay the opening fee of the transaction channel.
After opening the channel and sending the transaction.In the meantime, B is not allowed to send until after the completion of the transaction B can send.
How to calculate the closing fees of the channel "Single and multiple channels"

As far as I understand:

If A wants to send B he needs to "open channel". In order to do so he needs to create Funding on-chain transaction to multisig wallet. This is a standard bitcoin TX that requires both A and B sigs to be further spent.

Closing TX will be spending this funding TX. All transactions in between will not be spent, and any attempts to spend anything but the latest TX will result in punishment for the one who make this attempt.

I.E. Closing channel means posting latest ln tx on blockchain and waiting time-lock to expire.

Cheers!
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February 05, 2018, 03:48:55 PM
 #4

I.E. Closing channel means posting latest ln tx on blockchain and waiting time-lock to expire.
The two parties in the channel can close the channel cooperatively and create a special closing transaction which does not have a time lock. In a unilateral close, you would have to wait for the timelock, but that should only be reserved for special circumstances where the other party is not available for a cooperative close.

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February 07, 2018, 08:41:55 AM
 #5

I.E. Closing channel means posting latest ln tx on blockchain and waiting time-lock to expire.
The two parties in the channel can close the channel cooperatively and create a special closing transaction which does not have a time lock. In a unilateral close, you would have to wait for the timelock, but that should only be reserved for special circumstances where the other party is not available for a cooperative close.

Yeah, thanks for that correction.
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