105 sats \ 3 replies \ @jonk 14 Feb \ on: Dual-funding BOLT Merged! bitdevs
NEED ELI5.
I'm pretty techy in general, even know a bit about lightning, but my brain power is very low atm
v1 lightning channels: one side funds a transaction to make an open, funds are all on their side
v2 lightning channels (dual-funded): both sides collaborate to make a transaction, funds can be in any amount on either side. it’s basically a mini coinjoin/payjoin onchain for every lightning channel that uses it
you can multifundchannels in CLN; if every peer uses v2 opens that will let you build basically your own decentralized coinjoin that results in channel opens 😎
no coordinator, all in one tx
add in liquidity ads and you can get multiple inbound channel capacity, again all in one tx with the payment for that liquidity being just more available inbound.
it’s a huge game changer on lightning’s onchain footprint
splicing builds on this and will let you do even more complicated liquidity movements in one transaction. move liquidity between channels, fund a new channel from an existing one, etc. All in one transaction
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This might help:
The easiest way to understand the gist of this PR is this video, which explains the prior protocol and overviews this one.
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