pull down to refresh

31 sats \ 4 replies \ @justin_shocknet 13 Aug 2024 \ on: First implementation of Lightning channel factories bitcoin

Calling hoax on this headline

Portal’s MPCh is a new layer that sits between Bitcoin L1 and Payment Channels on Lightning Network.
  1. It's not really Lightning, it's scalooor fud vTXO magical trust layer affinity scam nonsense
  2. channel batching "factories" reduce channel open costs by ~80% have been in LND for years (I'm personally experimenting with using Nostr to enhance UX of coordinating said batches)
write
preview
0 sats \ 3 replies \ @sime OP 13 Aug 2024

I'm new to this, but channel batching is not the same as channel factories.

reply
21 sats \ 2 replies \ @justin_shocknet 13 Aug 2024

Scammers just tried to co-opt the term, channel factories is a term that's been around for batching since at least 2018

reply
0 sats \ 1 reply \ @sime OP 13 Aug 2024

So channel factories are Multi-Party single channels.

Alice and Bob have a channel. They can invite Charlie to the channel without an on chain transaction.

https://veronicatee.hashnode.dev/a-brief-overview-of-lightning-network-channel-factories

reply
21 sats \ 0 replies \ @justin_shocknet 13 Aug 2024

Yea that's a batch with multiple initiators requiring Eltoo... not the same thing from the shitcoin page in the OP

reply