Comment by benwayy on 06/01/2018 at 17:18 UTC

2 upvotes, 1 direct replies (showing 1)

View submission: ⚡ Lightning Network Megathread ⚡

How do on-chain fees work when opening and closing channels? Who pays the fee?

question I'm most interested in, along with how easy it will be for a regular person to open a channel

Replies

Comment by TheGreatMuffin at 06/01/2018 at 17:23 UTC

3 upvotes, 0 direct replies

If you are opening a new channel with someone, you pay the on-chain transaction fees, just as you would pay fees for a regular transaction on-chain. But afaik, it's also possible to have someone top-up your existing channel (so you pay the person topping up your channel with fiat, or an altcoin, or a product/service), and also there are other "tricks" to avoid/minimise on-chain fees, like channel factories