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Jimmy missed that class :)
It says "on-chain" in the title though.
And what is LN in fact? Just a "delayed" onchain tx. Right?
Is even so wrong to see people using the term "offchain" when they refer to a LN payment.
HTLC
Is even so wrong to see people using the term "offchain" when they refer to a LN payment.
HTLC
In an ideal situation the HTLC never hits the chain, making the term "offchain" perfectly applicable IMO.
I was expecting this wrong answer from SS but not from you.
Where am I wrong?
insisting that LN is something different than onchain.
HTLC is a contract on how the sats are moved between 2 peers.
No offchain, no other chain no bullshit.
If you say "offchain" it means you take them out from the Bitcoin chain and put them on another chain. But that is false. Sats never leave the Bitcoin chain.
I am not denying that Lightning is ultimately enforced on-chain. But an HTLC is usually not recorded in the chain. Only the final state of the channel once it's closed. Hence why I called it "off-chain". But I really don't care what you want to call it. This seems like a pointless discussion to me.
If you say "offchain" it means you take them out from the Bitcoin chain and put them on another chain.
It seems our definition of "offchain" differs, leading to this misunderstanding.
They are reusable on-chain transactions
It's no less on chain than a coinjoin or submarine swap
Matter of perspective.
Lightning is the biggest coinjoin