Annotated notes from Let’s Talk Bitcoin Episode 389. Taken from Professor Meow on Twitter.
@TheLTBNetwork Episode 389 annotated: Lightning Network Part. 1@aantonop: [SPLICING] is probably one of the most powerful and underappreciated features.
— Humble.Meow (@ProfessorMeo_w) February 24, 2019
Full episode HERE: https://t.co/7lvFcyH0Bf 🔥🔥🔥
Commitment transactions are huge part of the penalty system Lightning enforces to make sure everyone plays nicely with one another, it make sure that if someone in the channel broadcasts an older transaction, thus trying to scam the other party, the commitment transaction will allow the first party access to the scamming party’s coins.
There were recently a few proposals to edit the commitment transaction, mainly the edits are about the format. Making the CLTV timeout symmetrical to avoid trying to pressure the peer into closing, making the remotepubkey BIP-32 styled and using the OP-TRUE style output to allow Child Pays For Parent fee dependancy.