Post
Topic
Board Development & Technical Discussion
Re: Can Lightning network work decentralized ?
by
sjefdeklerk
on 21/01/2018, 01:29:31 UTC
You really overcomplicate things. Really, from the bitcoin ledger perspective there is NO difference if you send money to me or to a payment channel. Both are just transactions from your BTC wallet to another BTC wallet.

You did not answer my questions and I love KISS so maybe you need to go back and read what I said again
to understand it because from what you just said I cannot work out if your saying we need one, two or three
blocks of data changed on the BC even if we do play a game of dice over the channel and we roll the dice
700 times

See this link and watch the video about Bob buying Coffee from the coffee shop every day for a month
https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400

I just watched your video. The problem is that a lot of articles/video's do explain the basics but don't explain it all so that's what can be confusing. When I started learning about LN I had to read several articles and piece the info together to really figure out what's going on.

This is the key though:

"A payment channel is a method to make off-chain transactions between two parties. To build up one you need to transact Bitcoins on a 2-of-2-Multisig address. For example, 0.1 bitcoin. 2-of-2 means that both you and the other party have to sign a transaction to make a payment. Like with bank accounts used for your rent deposit.

After both parties have transacted bitcoins to the multisig-address, they build a new transaction – for example, one who pays 0.1 bitcoin to each of them – and sign them. Now the tricky part starts; this transaction is not propagated to the Bitcoin network and not confirmed by the miners, but just shared between both parties involved in the payment channel. Instead of sending it to the network, they can modify the transaction as often as they want. These modifications of the transaction, signed by both parties, can be used to make off-chain payments."

https://btcmanager.com/lightning-network-primer-pt-i-building-payment-channels/

So again, the 'payment channel' is really just a BTC address. So from the ledger perspective, there's no difference if I transfer money to you directly or to the payment channel. It's just a transfer from BTC address 1 to BTC address 2. So the ledger just registers

                       1 BTC
BTC address A ----------> BTC Address B

Where BTC address B could be my wallet but it could also be a multisig address (= payment channel). This is why LN can be integrated because from the ledger perspective nothing even changes.