Friday, November 25, 2022
HomeBitcoinDoes the Lightning Community have an equal to "Proof of burn"?

Does the Lightning Community have an equal to “Proof of burn”?


The Lightning Community is only a assortment of two-party agreements on the most recent channel state, and these agreements are represented by pre-signed force-close transactions which pay every social gathering their very own respective channel stability.

A technique of “burning” cash then could be to barter a brand new channel state that features an additional OP_RETURN output with the burned quantity (I am undecided if the present LN specification permits that, however there’s nothing technically stopping it). Nevertheless, till a channel state with this OP_RETURN output will get settled on the blockchain when the channel is closed, the 2 channel events can undo the “burn” in the event that they agree on a brand new channel state with out it (and there is most likely no cause for them to not), so this proof of burn can’t be relied on by any third events.

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