bitcoin-dev

Scaling Lightning Safely With Feerate-Dependent Timelocks

Scaling Lightning Safely With Feerate-Dependent Timelocks

Posted on: December 28, 2023 18:19 UTC

In the realm of blockchain and cryptocurrency, the discussion often turns to the mechanics of transaction processing and the role of miners.

An interesting point is raised regarding the potential for miners to engage in what's termed as 'dishonest mining.' This practice involves miners paying themselves offchain and subsequently crafting blocks where the total value of inputs exceeds outputs, beyond the fees typically paid within the blockchain network. This behavior diverges from the expected norm where transaction fees are seen as a reflection of network congestion.

Furthermore, it is acknowledged that Fee Dominant Transactions (FDTs) depend on a majority of miners adhering to honest practices. The stability and reliability of FDTs are contingent upon this integrity within the mining community. As these dynamics continue to play out, the need for vigilance and an understanding of miner behavior becomes increasingly important for those invested in the blockchain ecosystem. The use of secure channels of communication, such as Proton Mail, from which this information was shared, underscores the significance of privacy and security in these discussions.