Explaining Lightning Network specification BOLT 12 and the intention it works with the Bitcoin Layer 2 protocol.
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Sjors is motivate! In this episode of “The Van Wirdum Sjorsnado,” hosts Aaron van Wirdum and Sjors Provoost talked about BOLT 12 (Basis of Lightning Abilities 12), a newly-proposed Lightning Network specification for “offers,” a originate of “meta invoice” designed by c-lightning developer Rusty Russell.
Where coins on Bitcoin’s outrageous layer are despatched to addresses, the Lightning Network makes expend of invoices. Invoices communicate the requested amount, node scurry situation and the hash of a secret which is susceptible for cost routing. This works, nevertheless has a series of obstacles,
Provoost explained the miniature print, severely that the amount wishes to be bitcoin-denominated (versus fiat-denominated), and that the invoice can only be susceptible once. BOLT 12, which has been implemented in c-lightning, is a approach to in actuality refer a payer to the node that is to be paid, in expose to demand a brand novel invoice. Whereas the BOLT 12 provide can also very smartly be static and reusable — it continually refers again to the same node — the payee can generate novel invoices on the skim when requested, pondering some distance more flexibility, Provoost explained.
In the kill, van Wirdum and Provoost talked about how the novel BOLT 12 messages are communicated over the Lightning Network through an replace to the BOLT 7 specification for message relay.