--- Day changed Sat Jun 18 2016
00:01 < AmikoPay_CJP> I had a thought about a HTLC time-out scenario, and I was wondering if you agree.
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01:52 < jouke_> What does HTLC stand for?
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02:17 < AmikoPay_CJP> Hash Time Locked Contract
02:22 < AmikoPay_CJP> The idea of an HTLC is that, if you have a hash pre-image, you can spend the output, but after a certain time, the output becomes spendable by someone else, even if he doesn't have the has pre-image.
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02:23 < AmikoPay_CJP> This forms the basics of how to do secure microtransactions on Lightning. First, each link locks up funds in an HTLC output, and then the has pre-image is revealed.
02:25 < AmikoPay_CJP> If the pre-image is revealed before the time-out (normal situation), the output becomes spendable by the receiving party. If not, the output becomes spendable by the sending party, which cancels the transaction.
03:30 < _nathan_> what's the point of blockchains thunderbolt network? does it achieve more than the lightning?
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