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I’m sort of surprised the centralized Bitcoin businesses like BitPay, Coinbase, and exchanges aren’t collaborating to transparently push transactions between th
by tlrobinson 9y ago
I’m sort of surprised the centralized Bitcoin businesses like BitPay, Coinbase, and exchanges aren’t collaborating to transparently push transactions between them off-chain.
Lightning Network isn’t even required, just simple unidirectional payment channels would allow them to amortize the transaction fees over many transactions, and be instantly confirmed.
The only tricky bit is the sender knowing when it can go off-chain. With BitPay soon requiring Payment Protocol that becomes easier [1]
1. https://blog.bitpay.com/payment-protocol/ https://blog.bitpay.com/payment-protocol/
- mhluongo 9y agoSome exchanges use Blockstream's Liquid federated sidechain to do inter-exchange settlement. Agreed though, payment channels have been around a long time.