I suggest to add another feature to the lightning network which I call a virtual payment channel (or in short VPC) to be described in this article. Such a virtual payment channel will NOT be backed by the blockchain and thus cannot operate in a trustless manner. However I see several use cases for virtual payment channels. …
Month: July 2018
Thoughts about eltoo: Another protocol for payment channel management in the lightning network
In this article I will give an overview about the proposed lightning network extension eltoo. There has been quite some buzz about the eltoo paper proposed by Christian Decker, Rusty Russell and Olaoluwa Osuntokun in May 2018. Bitcoin magazines and blogs have been making promising statements, that lightning will become even faster than it currently is. According to …