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Edited ch12.asciidoc with Atlas code editor

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judymcconville@roadrunner.com 2017-05-02 13:18:09 -07:00
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@ -405,7 +405,7 @@ Asymmetric revocable commitments with relative time locks (+CSV+) are a much bet
==== Hash Time Lock Contracts (HTLC)
Payment channels can be further extended with a special type of smart contract that allows the participants to commit funds to a redeemable secret, with an expiration time. This feature is called a _Hash Time Lock Contract_ or _HTLC_ and is used in both bidirectional and routed payment channels.
((("Hash Time Lock Contracts (HTLC)")))((("payment (state) channels", "Hash Time Lock Contracts (HTLC)")))Payment channels can be further extended with a special type of smart contract that allows the participants to commit funds to a redeemable secret, with an expiration time. This feature is called a _Hash Time Lock Contract_ or _HTLC_ and is used in both bidirectional and routed payment channels.
Let's first explain the "hash" part of the HTLC. To create an HTLC, the intended recipient of the payment will first create a secret +R+. They then calculate the hash of this secret +H+: