Upgrading Existing Lightning Channels

In the discussion, the specification is described as clear and well-defined, particularly when addressing the issue of upgrading without altering funding output. It highlights that most implementations are close to completing splicing, while Point Time Locked Contracts (PTLCs) are still in development. There is an anticipation that once taproot support becomes widespread, a splice-to-upgrade method might be adopted. This approach would involve using either a heuristic sensitive to fees or a manual decision-making process for determining the optimal timing for committing to the blockchain.

Furthermore, there's an interest in learning about various strategies for implementing upgrades. The conversation suggests that after securing an upgrade to the funding output through methods like splicing or dynamic commitments, it would become feasible to transition to PTLCs or version 3 (V3) by changing the commitment format via dynamic commitments. This progression implies a strategic approach to upgrading that carefully considers the current state of technology and the readiness of specific enhancements like PTLCs before fully integrating them into the system.