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So, in bitcoin atomic swaps it can be changed to Litecoin only ? or its possible to do this with other coins (different BTC forks for example ) ?
Hi there, I think for forks this should generally work the same way because the underlying code should be nearly the same, but I think Bitcoin Cash may not adopt Lightning network, as Roger (as the BCH frontman) considers LN to be too centralized (check out Lee and Ver discussing LN https://www.youtube.com/watch?v=63akDMMfiPQ). In his opinion full decentralisation is realized through on chain transactions only, therefore block scaling was proposed. The next relevant. Bitcoin SV (which is not a direct BTC fork) may go the same way as block size further increased.
Considering the small relevance of the other btc forks, I don’t think they will adopt LN (yet even survive in the long term).
That’s also why LTC is not only considered to be silver to BTCs gold, but also it is considered to be a BTC testnet (by BTC maximalists).
Emm. Lightning network ?? I’ve been asking about Atomic Swaps)
If it is possible only to swap BTC - LTC ( so ltc - btc) or atomic swaps in bitcoiin are possible with few other projects that like Litecoin actually run the same code as BTC)
As I understand it you can do atomic swaps between any different blockchain as long as both support HTLC transactions. In reality you’re not sending anything from one chain to the other, you’re just doing 2 transactions separately on each blockchain, i.e. send from user A to user B on blockchain X and then from user B to user A on blockchain Z, therefore each user gets balance on each blockchain.
Wow, I had no clue LN and atomic swaps were all done with bitcoin scripting! Thanks for explaining this.
just a doubt, when person A wants to pay person D, it goes through person B.
Does person B earn something by serving has a route between A & D? or it just do it for free?
Are you talking about routing fee’s? This is really not ‘the’ incentive to run an LND node, you can get some satoshis to route some payments, that’s all. It’s actually more work to manage (and balance) your channels in a good way. It’s more for people who have a business to sell something with instant btc settlement. Others are mainly doing it to learn and help the network (like me) You don’t need to run an LND node to get rich with ‘routing’-fee’s
thanks for the reply @Fabrice, yeah is not to get rich, i just wanted to know if serving has a route has any incentive or not at all. More importantly than earn some ‘routing’-fee’s is to help the network being more scalable.
Question about the Atomic Swap example from lecture:
Help me understand how does the key to unlock work on two different blockchains (BTC and LTC)? I am assuming also that the LTC is being sent to a LTC compatible wallet that may not be compatible with BTC. Why doesn’t this matter?