📅 Original date posted:2022-07-12
📝 Original message:BIP119, OP_CTV, allows value to be assigned in a predetermined tree
of payments that confirms with a single output.
This allows batched transactions in the predetermined tree (e.g.
withdrawals from a centralized exchange) to be anchored in a way that
disallows double-spending of the inputs, yet allows the recipients to
smooth out mining fees for their withdrawal outputs, at their leisure.
It's a perfect design for a world where there are always more
transactions to be made than block space allows, yet only some of them
are urgent. As it applies to concerns mentioned in this thread, it
can be used to shift transaction fees to later blocks. Whenever
smoothing transaction fees would be a nice-to-have, this is one way to
have it.
https://utxos.org/uses/scaling/
https://utxos.org/analysis/bip_simulation/
On Tue, Jul 12, 2022 at 9:49 AM Peter <dizzle at pointbiz.com> wrote:
> With 3000 Lightning open/ close tx per block and 6 billion adults
> it's 38 years of backlog to onboard the entire adult
> population. That's not including corporations.
Separately, OP_CTV also allows slightly different payment channels
from the existing Lightning Network, that allow non-interactive
batched opens. Using this technique, onboarding 6 billion adults to
payment channels would be limited only by their willingness to
participate.
https://utxos.org/uses/non-interactive-channels/
Ryan Grant [ARCHIVE] /
npub19a…6mwcl
2023-06-07 23:11:47
in reply to nevent1q…uvu9
Author Public Key
npub19a2m7qm80t7mzhgqfgunswhm5c3q4fkqt89057ugy7u8jdxncf2q06mwclPublished at
2023-06-07 23:11:47Event JSON
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"content": "📅 Original date posted:2022-07-12\n📝 Original message:BIP119, OP_CTV, allows value to be assigned in a predetermined tree\nof payments that confirms with a single output.\n\nThis allows batched transactions in the predetermined tree (e.g.\nwithdrawals from a centralized exchange) to be anchored in a way that\ndisallows double-spending of the inputs, yet allows the recipients to\nsmooth out mining fees for their withdrawal outputs, at their leisure.\n\nIt's a perfect design for a world where there are always more\ntransactions to be made than block space allows, yet only some of them\nare urgent. As it applies to concerns mentioned in this thread, it\ncan be used to shift transaction fees to later blocks. Whenever\nsmoothing transaction fees would be a nice-to-have, this is one way to\nhave it.\n\n https://utxos.org/uses/scaling/\n https://utxos.org/analysis/bip_simulation/\n\nOn Tue, Jul 12, 2022 at 9:49 AM Peter \u003cdizzle at pointbiz.com\u003e wrote:\n\u003e With 3000 Lightning open/ close tx per block and 6 billion adults\n\u003e it's 38 years of backlog to onboard the entire adult\n\u003e population. That's not including corporations.\n\nSeparately, OP_CTV also allows slightly different payment channels\nfrom the existing Lightning Network, that allow non-interactive\nbatched opens. Using this technique, onboarding 6 billion adults to\npayment channels would be limited only by their willingness to\nparticipate.\n\n https://utxos.org/uses/non-interactive-channels/",
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