From c273e63f0d6ce08dc3b1c76b50e8f6931a088602 Mon Sep 17 00:00:00 2001 From: "Andreas M. Antonopoulos" Date: Tue, 18 Jul 2017 12:20:06 +0800 Subject: [PATCH] improved wording --- ch12.asciidoc | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/ch12.asciidoc b/ch12.asciidoc index d973eaf8..3c609a9f 100644 --- a/ch12.asciidoc +++ b/ch12.asciidoc @@ -293,7 +293,7 @@ The refund transaction acts as the first commitment transaction and its timelock Now that Emma has a fully signed refund transaction, she can confidently transmit the signed funding transaction knowing that she can eventually, after the timelock expires, redeem the refund transaction even if Fabian disappears. -Every commitment transaction the parties exchange during the life of the channel will be timelocked into the future. But the delay will be slightly shorter for each commitment so the most recent commitment can be redeemed before the prior commitment it invalidates. Because of the +nLocktime+, neither party can successfully propagate any of the commitment transactions until their timelock expires. If all goes well, they will cooperate and close the channel gracefully with a settlement transaction, making it unnecessary to transmit an intermediate commitment transaction. In essence, the commitment transactions are only used when one party disconnects and the other party has to close the channel unilaterally. +Every commitment transaction the parties exchange during the life of the channel will be timelocked into the future. But the delay will be slightly shorter for each commitment so the most recent commitment can be redeemed before the prior commitment it invalidates. Because of the nLockTime, neither party can successfully propagate any of the commitment transactions until their timelock expires. If all goes well, they will cooperate and close the channel gracefully with a settlement transaction, making it unnecessary to transmit an intermediate commitment transaction. If not, the most recent commitment transaction can be propagated to settle the account and invalidate all prior commitment transactions. For example, if commitment transaction #1 is timelocked to 4320 blocks in the future, then commitment transaction #2 is timelocked to 4319 blocks in the future. Commitment transaction #600 can be spent 600 blocks before commitment transaction #1 becomes valid.