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Merge pull request #548 from asymmetric/patch-1

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Remove "short" from timelock sentence
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Will Binns 2019-05-08 20:52:18 +00:00 committed by GitHub
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@ -360,7 +360,7 @@ Output 1:
<Irene's Public Key> CHECKSIG <Irene's Public Key> CHECKSIG
---- ----
This way, each party has a commitment transaction, spending the 2-of-2 funding output. This input is signed by the _other_ party. At any time the party holding the transaction can also sign (completing the 2-of-2) and broadcast. However, if they broadcast the commitment transaction, it pays the other party immediately whereas they have to wait for a short timelock to expire. By imposing a delay on the redemption of one of the outputs, we put each party at a slight disadvantage when they choose to unilaterally broadcast a commitment transaction. But a time delay alone isn't enough to encourage fair conduct. This way, each party has a commitment transaction, spending the 2-of-2 funding output. This input is signed by the _other_ party. At any time the party holding the transaction can also sign (completing the 2-of-2) and broadcast. However, if they broadcast the commitment transaction, it pays the other party immediately whereas they have to wait for a timelock to expire. By imposing a delay on the redemption of one of the outputs, we put each party at a slight disadvantage when they choose to unilaterally broadcast a commitment transaction. But a time delay alone isn't enough to encourage fair conduct.
<<asymmetric_commitments>> shows two asymmetric commitment transactions, where the output paying the holder of the commitment is delayed. <<asymmetric_commitments>> shows two asymmetric commitment transactions, where the output paying the holder of the commitment is delayed.