[abrmellisaParticipant February 3, 2024 at 1:10 AM Post count: 0]

#135909 |

<br> In addition to earning Bitcoin from mining, you can buy and sell it online. “. And you can have many rounds of exchanges like that, where it goes back and forth between the nodes, until you decide on what fee you want to apply to a mutual closing transaction. So basically you have symmetric payment channel networks, so the channel has symmetric state. So, when you have a channel non-initiator, maybe you have more of an incentive to force close than to mutual close because this way it’s going to be the channel initiator that will pay the fees. Bastien Teinturier: Because there’s only one other party can actually change the feerate of a commitment transaction and it’s the channel initiator. And then the other party can either just reject that entirely by disconnecting, or can either also accept the fee that was proposed, or propose another fee inside the range that was proposed. So at some point, we added a small tweak to that to make it one round and a half of exchange, where the party who wants to close the channel sends a Type-Length-Value (TLV) saying, “I will accept any fee inside that range, and I am proposing that one”. So, this is basically a channel that cannot be used any more, there’s nothing urgent to do on it apart from closing, so having even a few more round trips is just not at all an issue. Bastien Teinturier: Yeah, even though this creates also potential issues, because the commitment transaction right now, the fees are paid by the channel initiator. So now, it’s going to be a very simple version of RBF, where the incentive should be properly aligned because only one party is paying the fees and they are the one proposing that RBF. But the issue is that since this is automated, actually in implementations, it’s already decided from the start what fee you’re going to accept and what fee you’re going to reject, so this negotiation was not actually very useful, and it created a lot of issues between those that couldn’t agree on fees. Mike Schmidt: Yeah, I think it’s probably good to jump into the second news item, then we can continue some of this di<br>s<br>.
In contrast, you can trade thousands of cryptocurrencies on Coinbase, and as of 2022, traditional brokers like Fidelity Investments began to include bitcoin investing for 401(k) accounts. David Yaffe-Bellany covers cryptocurrencies and financial technology. ATHEY: But in the financial world we’re still basically running the system on decades-old technology… Different from China, the finance minister of Russia banned cryptocurrency but not the blockchain technology. And many companies make products using blockchain that have nothing to do with cryptocurrency or NFTs. And already, with only one side of a channel being able to send that message, it creates a lot of issues, because updating the fee of a commitment transaction while you have a lot of HTLCs in flight can actually make you deep into your reserve. Always double-check URLs to make sure you’re visiting the genuine website. So, if I’m the initiator and I want to close the channel, I’m going to say, “I’m closing that channel with that fee that is taken from my output. Bastien Teinturier: Exactly. And on top of that, if you have both prepared two transactions, published them, they’re not confirming, https://www.youtube.com/ at any point in time, you can just resend that message that says, “I’m ready to <br>t<br> fee now.
So, since our goal is rather to go in the direction of removing update fee entirely and using zero-fee commitment transactions, we’re just not going to bother changing how the fee is paid before we get to that point. The goal is to just get to a point where the commitment transaction doesn’t pay any fee so that everything is simpler. Most “thought-leaders” (read: grifters, scammers) in this space decided instead that they could get away with selling snake oil by adding layers and layers of convolution. 5594 makes several changes, including adding and updating several APIs, to allow the autoclean plugin to delete old invoices, payments, and forwarded payments. And this way, we’ll be able to completely deprecate the older two versions at some point. It sounds like this simplified protocol is two rounds. It sounds like that was a several-day meeting. So, there was an in-person meeting of some of the Lightning Network developers in New York, and Carla posted to the Lightning-Dev mailing list the summary of a bunch of the discussions that occurred. There was a variety of topics that we highlighted from that list in the newsletter this week. If there is a match, someone can be granted access to a system, for example a bank or high sec<br>y clearance room.