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Contract-level Relative Timelocks (or, let's talk about ancestry proofs and singletons)

Contract-level Relative Timelocks (or, let's talk about ancestry proofs and singletons)

Original Postby reardencode

Posted on: January 6, 2025 15:18 UTC

Ademan's proposal for multi-party penalty-optional rebindable channels introduces a notable solution aimed at optimizing the efficiency of channel updates.

The crux of this approach is in its limitation of the number of updates to equal the number of channel participants. This unique constraint allows each update within the channel to be distinctly identified by its sequential order. An immediate benefit of this design is the potential reduction in settlement delays that typically accompany each update. Specifically, as the system progresses towards the last permitted update in an Ademan channel, the mechanism for settling transactions can be expedited, possibly to the point of achieving immediate settlements on this final update.

This streamlined settlement process has particular implications for 2-party Ademan channels. In these scenarios, HTLCs (Hashed Timelock Contracts) โ€” which are instrumental in ensuring the security and reliability of conditional transactions across disparate blockchains โ€” notably require tolerance for only a single settlement delay. This represents a significant improvement over traditional models, wherein multiple settlement delays might accumulate, thereby slowing down the transaction process. Through Ademan's innovative channel design, the operational efficiency of executing transactions in a blockchain environment could see substantial enhancements, especially in systems characterized by a high frequency of transactions and a need for rapid settlement times.

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