Can anyone pls point me to a technical explanation on how Phoenix Wallet works when receiving, when they open a channel to you?
I know there are several concepts/implementations for how to handle this sort of UX… I have a hard time keeping them straight. 🙏
So when you first start the wallet and have no channels and you create an invoice, if you decode it, it will have Acinq's pubkey in the routing hints so they will be the last hop.
When they see the incoming HTLC to your mobile node, they open a zero conf channel to you, and then the payment settles.
Ty sir. I think was referring more to how the zero conf channel works. There are also “phantom channels” and similar ideas
https://docs.lightning.engineering/lightning-network-tools/pool/zero-confirmation-channels
This is an LND version explanation but essentially it's just both peers agreeing that a channel can be operational without the funding tx being confirmed and the node that is accepting the zero conf trusting the initiator to not double spend the funding tx.
So is there any real difference between “zero conf” channels and “phantom” channels? I feel like there’s at least one other similar term out there that I’m forgetting
There is hosted channels which is fiatjaf's concept. The difference between that and zero conf is, zero could potentially become trustless at some point if the funding tx is broadcasted and confirms but hosted channels are just channels with fake money from what I understand. There is no funding involved, channel is just opened and can be used to transact. Maybe you could be the hosted channel provider for your kids and they route through you without you ever committing funds to the channel.
Maybe phantom channels are the same thing?
Very nice, thanks for the explanation. I think I heard Phantom Channels come out of one of the LDK projects. It might be that it’s the same as zero conf.
Personally I hate the term “zero conf” because it reminds me of BCashers and, more recently, RBF disrespectors 😂😭
I call them trusted channels, zero-conf is misleading.
