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payment_channels.html
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<!doctype html>
<html>
<head>
<meta charset="utf-8">
<meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no">
<title>Payment Channels</title>
<link rel="stylesheet" href="css/reveal.css">
<link rel="stylesheet" href="css/theme/simple.css">
<!-- Theme used for syntax highlighting of code -->
<link rel="stylesheet" href="lib/css/xcode.css">
<!-- Theme override for teachbitcoin -->
<link rel="stylesheet" href="css/teachbitcoin.css">
<!-- Google Font Roboto -->
<link href="https://fonts.googleapis.com/css?family=Open+Sans:300,400,400i,600" rel="stylesheet">
<link href="https://fonts.googleapis.com/css?family=Roboto+Mono" rel="stylesheet">
</head>
<body>
<div class="reveal">
<div class="slides">
<!-- *********** BEGIN: Payment Channel Introductions *********** -->
<section class = "box">
<div class = "title">
Introduction to <span class = "title weight">Payment Channels</span>
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1270px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/payment_channels/payment_channel_intro0.svg" class = "image" style = "z-index: -3;">
<img src="images/payment_channels/payment_channel_intro1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/payment_channel_intro2.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 50%; font-size: 24px; margin: 0px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<!-- <hr style = "height:5px; visibility:hidden;"> -->
<li style = "font-weight: bold;">Alice has funded the channel</li>
<ul style = "list-style-type: circle;">
<li>Alice signs a funding transaction which spends to a 2-of-2 multisig output.</li>
<li>Once the funding transaction is broadcast, the payment channel is open.</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">Both parties sign the commitment TX.</li>
<ul style = "list-style-type: circle;">
<li>Requires signatures of both parties.</li>
<li>Commitment captures channel balance.</li>
<li>Is updated with each new channel payment.</li>
<li>Is not broadcasted until channel closure.</li>
</ul>
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** END: Payment Channel Introductions *********** -->
<!-- *********** BEGIN: Naive Channel *********** -->
<section class = "box">
<div class = "title">
<span class = "title weight">Payment Channel:</span> Naive Implementation
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1270px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/beijing_meetup_july2018/naive_channel0.svg" class = "image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/naive_channel1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/naive_channel2.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/naive_channel3.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/naive_channel4.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/naive_channel5.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/naive_channel6.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 45%; font-size: 24px; margin: 0px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<!-- <hr style = "height:5px; visibility:hidden;"> -->
<li style = "font-weight: bold;">Funding TX and Commitment TX 1</li>
<ul style = "list-style-type: circle;">
<li>Funding TX signed by A</li>
<li>Commitment TX 1 signed by both parties</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">Valid Channel Close</li>
<ul style = "list-style-type: circle;">
<li>Latest commitment TX is broadcast by either party</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">Problem: Invalid Channel Close</li>
<ul style = "list-style-type: circle;">
<li>Nothing prevents either party from broadcasting old state</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** END: Naive Channel *********** -->
<!-- *********** BEGIN: RSMC *********** -->
<section class = "box">
<div class = "title">
<span class = "title weight">Revocable Sequence Maturity Contract</span>
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1270px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/payment_channels/rsmc_script0.svg" class = "image" style = "z-index: -3;">
<img src="images/payment_channels/rsmc_script1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/rsmc_script2.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 40%; font-size: 24px; margin: 0px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<li style = "font-weight: bold;">Spendable after time-out</li>
<ul style = "list-style-type: circle;">
<li>RSMC A is spendable by A after a delay</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">Spendable by secret R</li>
<ul style = "list-style-type: circle;">
<li>Each party generates secret: <br><span class="inline_code">r1 & r2</span></li>
<li>Parties exchanges pubkeys: <br><span class="inline_code">R1 & R2</span></li>
<li>Public key R is derived indendently:<br><span class="inline_code">R = R1+R2 = r1•G + r2•G = (r1+r2)G</span></li>
<li>Public key R is spendable with:<br><span class="inline_code">r = r1 + r2</span></li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">A party can revoke its RSMC output:</li>
<ul style = "list-style-type: circle;">
<li>By sharing its secret with counterparty.</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** END: RSMC *********** -->
<!-- *********** BEGIN: RSMC Channel *********** -->
<section class = "box">
<div class = "title">
<span class = "title weight">Payment Channel</span> with RSMC's
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1270px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/beijing_meetup_july2018/RSMC_channel0.svg" class = "image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/RSMC_channel1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/RSMC_channel2.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/RSMC_channel3b.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/beijing_meetup_july2018/RSMC_channel4.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 40%; font-size: 24px; margin: 0px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<!-- <hr style = "height:5px; visibility:hidden;"> -->
<li style = "font-weight: bold;">Old states are revoked</li>
<ul style = "list-style-type: circle;">
<li>RSMC can be spent by counterparty</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">Old broadcast states are swept</li>
<ul style = "list-style-type: circle;">
<li>Penalty TX by counterparty broadcast</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">Chain needs to be watched</li>
<ul style = "list-style-type: circle;">
<li>Both parties must monitor chain for invalid commitment transactions</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
<li style = "font-weight: bold;">Watchtower</li>
<ul style = "list-style-type: circle;">
<li>Channel participant outsources the monitoring of commitment transactions</li>
</ul>
<hr style = "height:5px; visibility:hidden;">
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** END: RSMC Channel *********** -->
<!-- *********** BEGIN: Routing Introduction *********** -->
<section class = "box">
<div class = "title">
Introduction to <span class = "title weight">Payment Channel Routing</span>
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1270px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/payment_channels/routing_overview0.svg" class = "image" style = "z-index: -3;">
<img src="images/payment_channels/routing_overview1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/routing_overview2.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/routing_overview3.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/routing_overview4.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/routing_overview5.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 50%; font-size: 22px; margin: 0px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<!-- <hr style = "height:5px; visibility:hidden;"> -->
<li style = "font-weight: bold;">1) Alice wants to send a payment to Dave.</li>
<ul style = "list-style-type: circle;">
<li>Dave creates a unique <span class="inline_code">payment_preimage</span>.</li>
<li>Dave sends <span class="inline_code">HASH160(payment_preimage)</span><br>to Alice.</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">2) Alice constructs a route to Dave.</li>
<ul style = "list-style-type: circle;">
<li>Onion routes <span class="inline_code">HASH160(payment_preimage)</span> along route.</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">3) Channels update commitment with <span class="inline_code">htlc</span>.</li>
<ul style = "list-style-type: circle;">
<li>Hash time locked contract represents<br>a "pending" amount.</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">4) Dave unlocks <span class="inline_code">htlc</span> with <span class="inline_code">payment_preimage</span>.</li>
<ul style = "list-style-type: circle;">
<li>Preimage is propgated backwards<br>through payment route.</li>
<li><span class="inline_code">htlc</span>'s are settled and commitment tx is updated.</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** END: Routing Introduction *********** -->
<!-- *********** BEGIN: Channel close with HTLC *********** -->
<section class = "box">
<div class = "title">
Closing a channel with <span class = "title weight">HTLC outputs</span>
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1355px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/payment_channels/htlc_close_0.svg" class = "image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_2.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_3.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_4.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_5.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_6.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_7.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_close_8.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 45%; font-size: 22px; margin: 0px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<!-- <hr style = "height:5px; visibility:hidden;"> -->
<li style = "font-weight: bold;">Bob closes channel with sent HTLC's</li>
<ul style = "list-style-type: circle;">
<li>A) HTLC spendable by timeout transaction<br>after htlc timeout.</li>
<ul>
<li style="font-style:italic;">HTLC & RSMC B revocable with <span class="inline_code">secret r</span></li>
</ul>
<li>B) HTLC immediately spendable by Charlie with <span class="inline_code">payment_preimage</span></li>
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">Charlie closes channel with received HTLC's</li>
<ul style = "list-style-type: circle;">
<li>A) HTLC spendable with success transaction<br>with <span class="inline_code">payment_preimage</span>.</li>
<ul>
<li style="font-style:italic;">HTLC & RSMC C revocable with <span class="inline_code">secret r</span></li>
</ul>
<li>B) HTLC spendable by Bob after HTLC timeout.
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">Timeout & Success Transactions:</li>
<ul style = "list-style-type: circle;">
<li>Two-stage design.</li>
<li>Enables both HTLC timeout and RSMC delay.</br>
</ul>
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** BEGIN: Channel close with HTLC *********** -->
<!-- *********** BEGIN: Closer look: HTLC script *********** -->
<section class = "box">
<div class = "title">
Closer look: <span class = "title weight">HTLC scripts</span>
</div>
<!-- 45% div for formula and curve--><!-- 45% text & bulletpoint -->
<div class = "multi_text_box_container" style = "padding: 40px 0 0 0; width: 1355px;">
<!-- 60% div for formula and curve-->
<div class = "" style = "width: 58%; font-size: 22px;">
<img src="images/payment_channels/htlc_script_0.svg" class = "image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_script_1.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_script_2.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_script_3.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_script_4.svg" class = "fragment image" style = "z-index: -3;">
<img src="images/payment_channels/htlc_script_5.svg" class = "fragment image" style = "z-index: -3;">
</div>
<!-- 45% text & bulletpoint -->
<div class = "text_box"
style = "width: 42%; font-size: 22px; margin: 40px 0 0 0">
<ul style = "margin: 0; padding: 0px; list-style-type: none;">
<!-- <hr style = "height:5px; visibility:hidden;"> -->
<li style = "font-weight: bold;">HTLC(SENT) output spendable by:</li>
<ul style = "list-style-type: circle;">
<li>After HTLC timeout: Timeout TX</li>
<li>Payment preimage & HTLC receiver’s signature</li>
<li>Revocation signature & public key</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
<li style = "font-weight: bold;">HTLC(RECV) output spendable by:</li>
<ul style = "list-style-type: circle;">
<li>Payment preimage & success TX</li>
<li>After HTLC timeout: HTLC sender’s signature</li>
<li>Revocation signature & public key</li>
</ul>
<hr style = "height:8px; visibility:hidden;">
</ul>
</div>
</div><!-- End of 2 column container -->
</section>
<!-- *********** END: Closer look: HTLC script *********** -->
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