2 upvotes, 1 direct replies (showing 1)
View submission: Lightning Network Megathread
I know you're not trolling, I'm not either. I don't think LN is going to be a success; I too don't rely on trust--trustless was the magic of Bitcoin.
Regarding your first question: the auto-close n-locktime TX is what sets the channel-duration... Or at least as I understand it. The subsequent broadcasts aren't done on-chain--broadcasting on-chain closes the channel.
Comment by [deleted] at 03/01/2018 at 12:53 UTC
1 upvotes, 1 direct replies
The newest transaction always (In the implementations I've seen) have a shorter duration then the previous transaction. Therefore the auto close will always happen with the most up to date transaction first.