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Clarifying revocation fixes #406

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Andreas M. Antonopoulos 2018-02-03 18:54:52 -06:00
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@ -368,9 +368,11 @@ This way, each party has a commitment transaction, spending the 2-of-2 funding o
.Two asymmetric commitment transactions with delayed payment for the party holding the transaction
image::images/mbc2_1208.png["Two asymmetric commitment transactions with delayed payment for the party holding the transaction"]
Now we introduce the final element of this scheme: a revocation key that allows a wronged party to punish a cheater by taking the entire balance of the channel.
Now we introduce the final element of this scheme: a revocation key that prevents a cheater from broadcasting an expired commitment. The revocation key allows the wronged party to punish the cheater by taking the entire balance of the channel.
The revocation key is composed of two secrets, each half generated independently by each channel participant. It is similar to a 2-of-2 multisig, but constructed using elliptic curve arithmetic, so that both parties know the revocation public key but only half the revocation secret key. In each round, both parties reveal their half of the revocation secret to the other party, thereby giving the other party (who now has both halves) the means to claim the penalty output if this revoked transaction is ever broadcast.
The revocation key is composed of two secrets, each half generated independently by each channel participant. It is similar to a 2-of-2 multisig, but constructed using elliptic curve arithmetic, so that both parties know the revocation public key but each party knows only half the revocation secret key.
In each round, both parties reveal their half of the revocation secret to the other party, thereby giving the other party (who now has both halves) the means to claim the penalty output if this revoked transaction is ever broadcast.
Each of the commitment transactions has a "delayed" output. The redemption script for that output allows one party to redeem it after 1000 blocks, _or_ the other party to redeem it if they have a revocation key, penalizing transmission of a revoked commitment.