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Honestly it's a step towards making off-chain payments work (Lightning Network) in these remote places. You can imagine a hub per small town acting sort of as
by sktrdie 9y ago
Honestly it's a step towards making off-chain payments work (Lightning Network) in these remote places.
You can imagine a hub per small town acting sort of as a "bank" which is listening to the blockchain.
You make payments with your local peers through some mesh-network, and once a week (or whenever the channels with the hub are open) they go to close the channels out at the hub.
I'm more worried about how these people will acquire their first Bitcoins.
- ianmiers 9y agoIt doesn't seem like a necessary step really. The hub still needs a network connection to open channels. With that connection it can run some kind of SPV like client. The bandwidth costs of that approach are larger, but still minimal. I suppose the one thing it does is make it easier for the hub to monitor for channel closure? But you could contract a third party service that messages you when that happens. Granted, that's a less verifiable trust assumption in a third party than they are broadcasting every block they get.