Replying to Avatar vnprc

The money moves on chain when you open or close a channel. For the lifetime of the channel it just sits there in a 2 of 2 multisig, waiting.
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Ingwie Phoenix (aka. birb) 2y ago

Ohhh! So, when I open a channel to someone to send them money, I effectively lock the required resources (funding the channel, paying the fees, preparing outgoing payment) on-chain, send the relevant information through the channel, and then close the channel, in which cases the locked resources will switch ownership to someone else, as the transactions from within the channel are finalized on close.

Did I get that right? o.o

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vnprc 2y ago

You typically don't close the channel after a single transaction. You leave it open indefinitely and you can route a great deal of payments through it. But you are able to close the channel at any time and get your money back.