Orfeas Stefanos Thyfronitis Litos
26/1/2018
Edinburgh University
A simple payment channel
Multi-hop channels
1) Alice sends
2) Alice signs and sends
3) Bob signs and sends
4) Bob signs and sends
5) Alice broadcasts
Normal P2PKH, no need for sending beforehand
Output of a Commitment transaction (Ctx)
Pays to a particular address,
only after Ctx has been on chain for some blocks
How many blocks? It's specified in Ctx
Spendable relative to Ctx broadcast
Used for simple payment channel
Output of a Commitment transaction (Ctx)
Pays to Bob if he knows the preimage of a hash
Pays to Alice only after some block height
Hash and height specified in Ctx
Spendable relative to Ctx signing
Used for multi-hop payment channel
0) Dave generates R and sends hash(R) to Alice
4) Dave discloses R and gets paid from Carol
Carol will either:
longest Top-Level Domain ever