Today Lightning Labs has released a new feature for the Lightning Network, the Lightning Loop.  [source in picture] This new payment type allows a rebalancing of a channel without actually closing it. It works via trust-less escrows that convert a lightning balance in an on-chain BTC balance. This is the equivalent to sending somebody a lightning payment that promises to repay you with actual BTC, just without having to trust anyone. This addresses one of the main problems in lightning, that each channel has a fixed capacity and once that is reached it is not possible to make more payments via that channel. As an example, when Alice opens a channel to Bob, she specifies how much money to lock up. She chooses 1 BTC and gradually pays Bob. Once she has paid Bob the full 1 BTC and Bob never paid anything back to Alice the channel is saturated. But now with loops, the channel can be rebalanced and Bob paid in onchain BTC. At first sight this does not seem like a big improvement. In order to receive a payment there is also the need for an onchain transaction, similar to closing the channel. The loop transaction is however simpler and therefore favoured. It also saves reopening a new channel after closing the old one. Furthermore it increases user experience, since the same lightning channel could be used for all eternity. But in my opinion the real advantage for this technology is for liquidity management of the bigger nodes in the network. Using a single loop payment it is possible to rebalance the liquidity of multiple big channels. Essentially every day the biggest nodes could send around some loops to make sure they always have sufficient liquidity amongst each other, and the residual is paid out onchain. This is much better than repeatedly closing and opening channels. Ordinary lightning users will probably not notice much change, but this feature will certainly find a way into the major lightning wallets and end users will be using loop payments without even noticing. In the end, lighting has become a little bit more user friendly and a bit more scalable.
| author | frdem3dot0 |
|---|---|
| permlink | lighting-loops |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin","lightning","scaling","cryptocurrency","nobidbot"],"image":["https://cdn.steemitimages.com/DQmQZUAN4daTyeTUrbYMHhB79UB3UZ6z7FVZabJos9iBW5U/42DFDC2300000578-4750304-image-a-44_1501599663204.jpg"],"app":"steemit/0.1","format":"markdown"} |
| created | 2019-03-21 16:24:45 |
| last_update | 2019-03-21 16:24:45 |
| depth | 0 |
| children | 6 |
| last_payout | 2019-03-28 16:24:45 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.268 HBD |
| curator_payout_value | 0.081 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 2,291 |
| author_reputation | 5,680,052,681,361 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 81,687,263 |
| net_rshares | 546,842,236,075 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| johnvibes | 0 | 376,922,833 | 5% | ||
| builderofcastles | 0 | 7,469,468,766 | 21% | ||
| freebornsociety | 0 | 10,780,700,040 | 20% | ||
| minnowsupport | 0 | 114,665,806,730 | 3% | ||
| mcoinz79 | 0 | 3,469,773,033 | 1% | ||
| msp-lovebot | 0 | 65,919,493,614 | 10% | ||
| msp-shanehug | 0 | 23,820,276,854 | 7% | ||
| jadabug | 0 | 2,021,331,920 | 1% | ||
| zoidsoft | 0 | 64,449,471,899 | 100% | ||
| inversionistam | 0 | 5,070,467,701 | 75% | ||
| frdem3dot0 | 0 | 19,915,764,662 | 100% | ||
| hackerzizon | 0 | 111,981,432 | 3% | ||
| sbi4 | 0 | 17,196,160,667 | 4.21% | ||
| luegenbaron | 0 | 7,105,678,602 | 35% | ||
| transparencybot | 0 | 13,667,732,704 | 100% | ||
| urdreamscometrue | 0 | 1,625,187,502 | 100% | ||
| dyogramsponson | 0 | 504,286,422 | 100% | ||
| curryvoid | 0 | 504,280,696 | 100% | ||
| shortsminge | 0 | 504,268,080 | 100% | ||
| dubignyp | 0 | 1,128,613,102 | 100% | ||
| steem-ua | 0 | 163,758,720,493 | 1.63% | ||
| curatorbot | 0 | 1,564,273,866 | 100% | ||
| steem-raffle | 0 | 17,240,472,519 | 100% | ||
| reversed-bidbot | 0 | 3,429,158,819 | 100% | ||
| ever971217 | 0 | 541,943,119 | 100% |
<p>Congratulations! This post has been upvoted from the communal account, @minnowsupport, by frdem3dot0 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=minnowsupport&vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=minnowsupport&vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=minnowsupport&vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=minnowsupport&vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=minnowsupport&vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&delegatee=minnowsupport&vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>
| author | minnowsupport |
|---|---|
| permlink | re-lighting-loops-20190321t170351z |
| category | bitcoin |
| json_metadata | "{"app": "beem/0.20.17"}" |
| created | 2019-03-21 17:03:51 |
| last_update | 2019-03-21 17:03:51 |
| depth | 1 |
| children | 0 |
| last_payout | 2019-03-28 17:03:51 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 1,693 |
| author_reputation | 148,902,805,319,183 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 81,689,085 |
| net_rshares | 0 |
This post is promoted by @reversed-bidbot as an upvote lottery with a jackpot of 0.999 steem! There are still up to 4926 tickets waiting to be distributed. Tickets are distributed according to the value of your upvotes with a __multiplier of 1500.0__. __Upvote the post to participate and claim your tickets!__ Excluded from participation are: bidbots, autovoters. Follow me to also earn steem on my other promoted posts; or use @reversed-bidbot to hold your own raffles. For more details please visit my [discord server](https://discord.gg/N5q8GRB) or read my [introduction post](https://steemit.com/curatorbot/@reversed-bidbot/reversed-bidbot-raffles) <center><a href="https://steemit.com/@reversed-bidbot"><img src="https://cdn.steemitimages.com/DQmTZXG16gQZsMbC5D1TXSXH7wxGKzk5anKPDyXPU7CNYzE/Screenshot%202018-09-16%2021.40.26.png"/></a></center>
| author | reversed-bidbot |
|---|---|
| permlink | re-frdem3dot0-lighting-loops |
| category | bitcoin |
| json_metadata | "" |
| created | 2019-03-21 19:42:00 |
| last_update | 2019-03-21 19:45:27 |
| depth | 1 |
| children | 0 |
| last_payout | 2019-03-28 19:42:00 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 861 |
| author_reputation | 814,346,269,779 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 81,696,542 |
| net_rshares | 0 |
I was called to perform a provably fair random drawing for @reversed-bidbot! There are a 231 tickets participating in this round. @jadabug holds tickets number 0 - 2 @freebornsociety holds tickets number 3 - 19 @builderofcastles holds tickets number 20 - 31 @urdreamscometrue holds tickets number 32 - 33 @frdem3dot0 holds tickets number 34 - 66 @inversionistam holds tickets number 67 - 74 @mcoinz79 holds tickets number 75 - 79 @dubignyp holds tickets number 80 - 80 @zoidsoft holds tickets number 81 - 183 @luegenbaron holds tickets number 184 - 194 @reversed-bidbot holds tickets number 195 - 199 @steem-raffle holds tickets number 200 - 228 @curatorbot holds tickets number 229 - 230 The merkle root of the block in which this post will appear determines the winner.
| author | steem-raffle |
|---|---|
| permlink | re-raffle-lighting-loops |
| category | bitcoin |
| json_metadata | "" |
| created | 2019-03-28 18:17:54 |
| last_update | 2019-03-28 18:17:54 |
| depth | 1 |
| children | 1 |
| last_payout | 2019-04-04 18:17:54 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 788 |
| author_reputation | 909,694,181,373 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 82,109,617 |
| net_rshares | 0 |
The block in which the above post is included has a merkle root of 3144c1637e47f33549c1494e05098b2158826d1a. To find the winner we: 1. Convert the merkle root into base 10: 3144c1637e47f33549c1494e05098b2158826d1a = 281273844970863687354866908072865601238247566618. 2. Compute the residual after dividing by the number of tickets: 281273844970863687354866908072865601238247566618 mod 231 = 31. 3. This is the winning ticket, held by @builderofcastles. __Congratulations!__
| author | steem-raffle |
|---|---|
| permlink | re-re-raffle-lighting-loops-20190328t181908 |
| category | bitcoin |
| json_metadata | "" |
| created | 2019-03-28 18:19:18 |
| last_update | 2019-03-28 18:19:18 |
| depth | 2 |
| children | 0 |
| last_payout | 2019-04-04 18:19:18 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.096 HBD |
| curator_payout_value | 0.032 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 481 |
| author_reputation | 909,694,181,373 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 82,109,699 |
| net_rshares | 190,126,377,229 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| gentlebot | 0 | 190,126,377,229 | 15% |
#### Hi @frdem3dot0! Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation! Your **UA** account score is currently 3.704 which ranks you at **#5348** across all Steem accounts. Your rank has dropped 5 places in the last three days (old rank 5343). In our last Algorithmic Curation Round, consisting of 211 contributions, your post is ranked at **#176**. ##### Evaluation of your UA score: * You're on the right track, try to gather more followers. * You have already convinced some users to vote for your post, keep trying! * Try to work on user engagement: the more people that interact with you via the comments, the higher your UA score! **Feel free to join our [@steem-ua Discord server](https://discord.gg/KpBNYGz)**
| author | steem-ua |
|---|---|
| permlink | re-lighting-loops-20190322t180413z |
| category | bitcoin |
| json_metadata | "{"app": "beem/0.20.18"}" |
| created | 2019-03-22 18:04:15 |
| last_update | 2019-03-22 18:04:15 |
| depth | 1 |
| children | 0 |
| last_payout | 2019-03-29 18:04:15 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 774 |
| author_reputation | 23,214,230,978,060 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 81,748,770 |
| net_rshares | 0 |
@frdem3dot0 Thank you for not using bidbots on this post and also using the #nobidbot tag!
| author | transparencybot |
|---|---|
| permlink | re-lighting-loops-frdem3dot0-transparencybot-randomvote |
| category | bitcoin |
| json_metadata | {"tags":["transparenybot","random-upvote"],"users":["frdem3dot0"],"app":"null/null","format":"markdown"} |
| created | 2019-03-22 16:30:33 |
| last_update | 2019-03-22 16:30:33 |
| depth | 1 |
| children | 0 |
| last_payout | 2019-03-29 16:30:33 |
| cashout_time | 1969-12-31 23:59:59 |
| total_payout_value | 0.000 HBD |
| curator_payout_value | 0.000 HBD |
| pending_payout_value | 0.000 HBD |
| promoted | 0.000 HBD |
| body_length | 90 |
| author_reputation | -5,641,716,862,244 |
| root_title | "Lighting Loops" |
| beneficiaries | [] |
| max_accepted_payout | 1,000,000.000 HBD |
| percent_hbd | 10,000 |
| post_id | 81,743,787 |
| net_rshares | 0 |
hiveblocks