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0 sats \ 2 replies \ @AyCaramba 25 Jul 2023 \ on: Lightning Everywhere bitcoin
Great article thanks!!
Federated custody for small amounts as a less risky custodial service seems nice and easy for newcomers.
I did not know that a multisig address could open lightning channels, and process the updates of a lightning payment. Sweet.
If that works, maybe it can also work a federated custody as a good solution for lightning escrows, instead of hodl invoices that freeze capital. This way when you need to pay with money upfront for a service, you can pay it to the escrow and not straight to the counterparty.
I can see now that Visa, Mastercard all of those do play a role as escrows in Ecommerce operations.
Federated custody cant do lightning channels yet. The way lightning integrates them is by having lightning gateways that do swaps between lightning and ecash from the federation. Lightning gateways can be any lightning node that wants to offer their services to federation users and trust the federation enough to exchange LN for ecash.
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got it.
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