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Ethereum: Understand the complex payment route process at Bitcoin Lightning Network

The Bitcoin Lightning (LN) network has changed how people and institutions can transfer value through the borders and do not need intermediaries. Although its decentralized and without confidence architecture is the main factor of its success, the process of the payment route LN is still wrapped in a mystery. In this article, we will try to stop the complex payment route process on the Bitcoin Lightning network.

General description of lightning network architecture

Lightning Network is an open source project that allows for faster and faster operations between individuals or organizations through a network called Bars. The network is designed on the Bitcoin block circuit but is not justified. Instead, use decentralized and confidence architecture to facilitate peer payments.

Payment route process

Paying on the Lightning network occurs when a person or organization initiates the operation in the block chain using its own personal key. The resulting public key is used to create a « payment channel » with another network node. This process includes several steps:

1

2.

  • Public key generation

    : New public key is created using a pulled private key.

  • Payment channel creation : Created public key is used to create a payment channel with another network knot. This process means that the circuit circuit has the creation of several « strips », each reflects the specific payment of the payment flow.

  • Channel segmentation : Each strip is segmented in smaller segments called « payment places ». These payment venues are further divided into « blocks ».

  • The spread of these blocks takes place through a network of distributed nodes.

  • Channel Update

    Ethereum: Routing in Bitcoin Lightning Network

    : Payment channel is updated by adding or removing payment grooves if necessary.

Route process

Everything here becomes complicated:

  • This solution depends on several factors, including the amount of transfer of funds required, and the network congestion.

2.

  • Channel Update : The selected node updates its payment channels to include the newly created channel segment.

4.

Challenges and restrictions

The route selection process on the light network is plagued by several challenges:

1

  • Security Risk : Decentralized network nature makes it vulnerable to safety risks such as nodes or the collapse of channels.

  • Complexity : Route selection process means complex algorithms and rules that ensure safe and effective payment flow.

Conclusion

The payment route process on the Bitcoin Lightning network is a complex and dynamic system that requires careful planning and management.