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An update on Thunder: On-Chain-Settlement (or CLAIM ALL THE THINGS)

A couple of months ago, we announced the alpha launch of the As we explained at the time, the vast majority of thunder payments are processed without touching the bitcoin blockchain, but that can only work if the few that eventually make it into the blockchain are handled correctly. In layman’s terms: a contract is useless unless it can be enforced in court. The same is true of thunder payments – users need to feel confident that the payments that make it to “court” (in this case, the bitcoin blockchain) will be valid.

Initially, we introduced the idea of a two-layer approach for payments: dual-tx. There are many advantages to this approach but it turns out that implementing that approach was far more difficult than anticipated.

How dual-tx makes thunder more user friendly

Refunds, in existing implementations, can take over a month and you can’t stay offline for more than a day. Want to go on a two-week vacation? That could mean refund times of over a year. You can find details on that here. We want to make refund windows as short as possible and to simultaneously prevent the payment recipient from dragging it out.

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Lundi 29 Août 2016