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CTV and Cold Channels.

Today in Bitcoin, to make a channel, you must first receive Bitcoin on-chain and then transfer it to a channel with your partner interactively. This is a minimum of two transactions just to open a channel and the channel opening cannot be batched.

With CTV, channels can be hidden inside your pubKey so that when you're paid and the transaction is committed on-chain (can even be batched using only one UTXO), that on-chain commitment is sufficient to use your channel. No need to dump the channel details on-chain.

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Discussion

Carman 1y ago

What is the script for the cold channel?

average_bitcoiner 1y ago

f7a8be33... 1y ago

It should look like a relatively normal channel except you roll it up into ctv to hide it. It is "cold" since you partner isn't aware of its existence yet. You'll need to coordinate with them to close it efficiently, otherwise you'll have to deal with the time locks.

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vnprc 1y ago

Can you explain how CTV allows you to "hide channels inside your pubkey"?

I understand CTV lets you precommit to the next transaction, so does this mean your CTV enabled on-chain address is set up to send to a 2-of-2 multisig using another lightning node's pubkey? How is this "inside the pubkey"? In my mental model it is more like you have an extra piece of metadata (the transaction you committed to in your template hash) that lives alongside your pubkey.

If you receive two transactions to this address does it necessarily mean you need to open two channels to the same node?

What happens if the other node goes offline? Can you spend from your CTV address to anywhere else? How does this work?

average_bitcoiner 1y ago

👀