(script draft) Peercoin Primer #5: Mission

General
83

More edits

With Formatting

Hi, I’m Chronos, and welcome to Part 5 of the Peercoin Primer. Peercoin is one of the world’s most established cryptocurrencies, and each video in this series will explore a different aspect of it.

Show overview onscreen:

Part 1: Launch
Part 2: Security
Part 3: Benefits
Part 4: Economics
Part 5: Mission

In this video, we’re going to talk about Peercoin’s mission. In particular, we will focus on the role of the Peercoin blockchain itself. Sunny King, the anonymous founder of Peercoin, said in 2013: (pause)

“From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, that maintains a high degree of decentralization, maintains a high level of security, but doesn’t necessarily provide a high volume of transactions.” (pause)

When Sunny talked about Peercoin as a backbone currency, he was actually introducing a concept that has since become known in the broader crypto community as a settlement layer.

In the early days of cryptocurrency, it was believed by many that decentralized blockchain networks would compete with other payment processing networks such as Visa or Mastercard, and even act as a replacement for paper money. However, in reality it turned out that decentralized blockchains struggle to support high transaction volumes and doing so actually degrades a blockchain’s decentralized security. Because of this limitation, it is difficult for decentralized blockchains to be used on a mass scale by a global population.

A more viable path toward global use of cryptocurrency is achieved by shifting the role of the blockchain away from day to day payment processing and towards the role of settlement layer, thus permitting maximum decentralization of the blockchain, while using vertical and horizontal scaling technologies to increase – indirectly - the transaction capacity of blockchains. With vertical and horizontal scaling, rather than transactions taking place directly on the blockchain, they are instead conducted off the blockchain.

Horizontal scaling utilizes sidechains, which are separate and independent blockchains. Sidechains are linked to a parent blockchain through a two-way peg. This two-way peg makes it possible for cryptocurrency and other assets to be exchanged from the parent blockchain to the sidechain. As an example, on the parent blockchain a user sends some of their coins to a specific address, which locks them. After a small waiting period, an equivalent amount of coins are released on the sidechain. As sidechains are usually designed with expanded functionality, the user may now have access to lower cost transactions, smart contracts, near instant payments and greater scalability. When finished using these expanded functions, the user can then settle back on the parent blockchain, reversing the process by sending their coins to a specific sidechain address, which locks them. The coins on the parent chain are then unlocked and become spendable again.

Vertical scaling utilizes separate networks that are built specifically for large volume and high speed processing. These independent networks are not blockchains, but secondary layers that exist on top of the blockchain. Where sidechains allow the blockchain to scale horizontally, secondary layers allow it to scale vertically. Both solutions prevent congestion on the main blockchain by allowing transactions to be offloaded onto off-chain networks, whether they be sidechains or secondary layers. In this way, the blockchain becomes the foundation of a network linked by multiple chains and layers.

A blockchain is a distributed public ledger which records and stores information in such a manner that prevents it from being edited or altered. This immutability means data becomes permanently recorded into the blockchain. This leads to a state of trustless security, where all users of the network can depend on the blockchain’s ability to guarantee the accuracy and immutability of recorded data. This security is the core value of the blockchain, and the main reason why it is utilized as the base of the network.

Continuing with vertical scaling, any independent layers built on top of the blockchain are designed to leverage the permanence of the data stored on the chain. These secondary layers undertake functions that the blockchain is incapable of achieving by itself, if it is to remain decentralized. Together, they form an important relationship. The blockchain records and stores information in a permanent manner, while secondary layers expand utility by creating new ways of interacting with that information. Without an immutable blockchain as the base of the system, the underlying data that secondary layers interact with would be compromised. Equally, without secondary layers to expand beyond existing functionality, the blockchain would be less useful, as data would be stored with fewer ways of interacting with it.

One example of secondary layers in action is the Lightning Network, developed to help scale the Bitcoin blockchain. Transactions are offloaded and processed through Lightning, while the blockchain is used to record final settlement, hence the name settlement layer. Lightning is only one possible secondary layer application. Other examples include atomic swaps, tokens, and smart contract protocols. Another example is a project called Open Transactions. Not only do secondary layers help solve transaction scaling issues, it also gives birth to a broader ecosystem of new utility with the blockchain as its settlement layer.

As Peercoin’s creator Sunny King intended in 2012, the Peercoin blockchain’s mission is to become this settlement layer. This shows incredible forethought, as Bitcoin did not adopt this strategy until years later after it became obvious the blockchain alone could not support transactions on a mass scale.

From the outset, all of Peercoin’s design choices were made with the goal of becoming the definitive settlement layer. We’ve discussed these design choices in videos 1 to 4; they include: removing the conflict of interests between miners and coin holders by allowing coin holders to mint their own blocks; achieving an efficient and inexpensive security protocol based on scarcity of time, rather than electricity; attaining geographical decentralization of minting power block producers; allowing for 1% annual inflation to prevent deflation and incentivize minting; and replacing transaction fees with a continuous block reward, as a means of compensating block producers.

These design choices mean Peercoin actually acts better as a settlement layer than blockchains that rely on security through transaction fees. Given that Peercoin’s security is maintained through a continuous block reward, and not transaction fees, there can never be competition between Peercoin’s block producers and secondary layer node operators for transaction fees. This eliminates the conflict of interests that exist when both settlement and secondary layers chase the same users for fees.

Unwritten concluding paragraph

If you enjoyed these videos, and want to learn more about Peercoin, be sure to head over to the official website at peercoin.net. There’s also a great community, very knowledgeable and friendly, on the official forums at talk.peercoin.net. And lastly, there’s a ton more educational material at university.peercoin.net, where you can really get in-depth with this beautiful blockchain.

If you have any questions or comments, let us know! Post below the video, or just head over to the forums. We’d love to hear from you.

Oh, and don’t forget to subscribe. I’m Chronos. Thanks for watching!

Without Formatting

Hi, I’m Chronos, and welcome to Part 5 of the Peercoin Primer. Peercoin is one of the world’s most established cryptocurrencies, and each video in this series will explore a different aspect of it.

Show overview onscreen:

Part 1: Launch
Part 2: Security
Part 3: Benefits
Part 4: Economics
Part 5: Mission

In this video, we’re going to talk about Peercoin’s mission. In particular, we will focus on the role of the Peercoin blockchain itself. Sunny King, the anonymous founder of Peercoin, said in 2013: (pause)

“From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, that maintains a high degree of decentralization, maintains a high level of security, but doesn’t necessarily provide a high volume of transactions.” (pause)

When Sunny talked about Peercoin as a backbone currency, he was actually introducing a concept that has since become known in the broader crypto community as a settlement layer.

In the early days of cryptocurrency, it was believed by many that decentralized blockchain networks would compete with other payment processing networks such as Visa or Mastercard, and even act as a replacement for paper money. However, in reality it turned out that decentralized blockchains struggle to support high transaction volumes. Because of this limitation, it is difficult for decentralized blockchains to be used on a mass scale by a global population.

A more viable path toward global use of cryptocurrency is achieved by shifting the role of the blockchain away from day to day payment processing and towards the role of settlement layer, thus permitting maximum decentralization of the blockchain, while using vertical and horizontal scaling technologies to increase – indirectly - the transaction capacity of blockchains. With vertical and horizontal scaling, rather than transactions taking place directly on the blockchain, they are instead conducted off the blockchain.

Horizontal scaling utilizes sidechains, which are separate and independent blockchains. Sidechains are linked to a parent blockchain through a two-way peg. This two-way peg makes it possible for cryptocurrency and other assets to be exchanged from the parent blockchain to the sidechain. As an example, on the parent blockchain a user sends some of their coins to a specific address, which locks them. After a small waiting period, an equivalent amount of coins are released on the sidechain. As sidechains are usually designed with expanded functionality, the user may now have access to lower cost transactions, smart contracts, near instant payments and greater scalability. When finished using these expanded functions, the user can then settle back on the parent blockchain, reversing the process by sending their coins to a specific sidechain address, which locks them. The coins on the parent chain are then unlocked and become spendable again.

Vertical scaling utilizes separate networks that are built specifically for large volume and high speed processing. These independent networks are not blockchains, but secondary layers that exist on top of the blockchain. Where sidechains allow the blockchain to scale horizontally, secondary layers allow it to scale vertically. Both solutions prevent congestion on the main blockchain by allowing transactions to be offloaded onto off-chain networks, whether they be sidechains or secondary layers. In this way, the blockchain becomes the foundation of a network linked by multiple chains and layers.

A blockchain is a distributed public ledger which records and stores information in such a manner that prevents it from being edited or altered. This immutability means data becomes permanently recorded into the blockchain. This leads to a state of trustless security, where all users of the network can depend on the blockchain’s ability to guarantee the accuracy and immutability of recorded data. This security is the core value of the blockchain, and the main reason why it is utilized as the base of the network.

Continuing with vertical scaling, any independent layers built on top of the blockchain are designed to leverage the permanence of the data stored on the chain. These secondary layers undertake functions that the blockchain is incapable of achieving by itself, if it is to remain decentralized. Together, they form an important relationship. The blockchain records and stores information in a permanent manner, while secondary layers expand utility by creating new ways of interacting with that information. Without an immutable blockchain as the base of the system, the underlying data that secondary layers interact with would be compromised.

One example of secondary layers in action is the Lightning Network, developed to help scale the Bitcoin blockchain. Transactions are offloaded and processed through Lightning, while the blockchain is used to record final settlement, hence the name settlement layer. Lightning is only one possible secondary layer application. Another example is a project called Open Transactions. Not only do secondary layers help solve transaction scaling issues, it also gives birth to a broader ecosystem of new utility with the blockchain as its settlement layer.

As Peercoin’s creator Sunny King intended in 2012, the Peercoin blockchain’s mission is to become this settlement layer. This shows incredible forethought, as Bitcoin did not adopt this strategy until years later after it became obvious the blockchain alone could not support transactions on a mass scale.

From the outset, all of Peercoin’s design choices were made with the goal of becoming the definitive settlement layer. We’ve discussed these design choices in videos 1 to 4; they include: removing the conflict of interests between miners and coin holders by allowing coin holders to mint their own blocks; achieving an efficient and inexpensive security protocol based on scarcity of time, rather than electricity; attaining geographical decentralization of block producers; allowing for 1% annual inflation to prevent deflation and incentivize minting; and replacing transaction fees with a continuous block reward, as a means of compensating block producers.

These design choices mean Peercoin actually acts better as a settlement layer than blockchains that rely on security through transaction fees. Given that Peercoin’s security is maintained through a continuous block reward, and not transaction fees, there can never be competition between Peercoin’s block producers and secondary layer node operators for transaction fees. This eliminates the conflict of interests that exist when both settlement and secondary layers chase the same users for fees.

Unwritten concluding paragraph

If you enjoyed these videos, and want to learn more about Peercoin, be sure to head over to the official website at peercoin.net. There’s also a great community, very knowledgeable and friendly, on the official forums at talk.peercoin.net. And lastly, there’s a ton more educational material at university.peercoin.net, where you can really get in-depth with this beautiful blockchain.

If you have any questions or comments, let us know! Post below the video, or just head over to the forums. We’d love to hear from you.

Oh, and don’t forget to subscribe. I’m Chronos. Thanks for watching!

84

Question: if secondary layers are not blockchains, what are they?

Continuing with vertical scaling, any independent layers built on top of the blockchain are designed to leverage the permanence of the data stored on the chain.

Another question: why should this not apply equally to side chains?

85

You’re right, they do. But as I said earlier, the script was originally designed only to talk about vertical scaling. Currently the script introduces both of them, horizontal and vertical. Then it talks about the nature of the blockchain as a base for permanently recording data. Then it goes back to mainly talking about vertical scaling and secondary layers. There may be places like this where it really should be talking about both. However this latter section is where I really expanded on vertical scaling, so it was difficult for me to figure out how to include both toward the end. Do you have any ideas?

86

What we want to do is to present the viewer with two polarities - the settlement layer, and the “working” layer. We can sub-divide the working layer into verticle and horizontal, but must draw them back together again to continue discussing the relationship between the two polarities - otherwise, we end up with three polarities: settlement, verticle, and horizontal, which we don’t want.

I’m making some notes/edits and will update tonight or tomorrow. Overall, I like the way the new bits on verticle and horizontal fit in, very much.

1 Like
87

That sounds like a good way to put it. I’m interested to see what you come up with to tie them back together again.

88

Do we know when horizontal and vertical layers, as concepts, became evident in crypto? Was it before 2012, or later. It would help the video if it was after 2012.

89

Check when we had first mention of open transactions for vertical and first mention of sidechains for horizontal.

90

Hope to update this later today … the issue, as I see it, is that we are presenting vertical and horizontal layers as the solution to the blockchain when, in fact, we want to say that Peercoin is the solution to the vertical and horizontal layers. I am therefore trying “re-pivot” the text to bring this aspect out. Also, Peercoin is towards at the end of the script, we need to bring it in earlier.

1 Like
91

Okay, a lot of changes here, so I’ve also done a version (next post) with edits incorporated.

+++

In this video, we’re going to talk about Peercoin’s mission. In particular, we will focus on the role of the Peercoin blockchain itself. Sunny King, the anonymous founder of Peercoin, said in 2013: (pause)

“From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, that maintains a high degree of decentralization, maintains a high level of security, but doesn’t necessarily provide a high volume of transactions.” (pause)

When Sunny talked about Peercoin as a backbone currency, he was actually introducing a concept that has since become known in the broader crypto community as a settlement layer.

In the early days of cryptocurrency, it was believed by many that decentralized blockchain networks would compete with other payment processing networks such as Visa or Mastercard, and even act as a replacement for paper money. However, in reality it turned out that decentralized blockchains struggle to support high transaction volumes. Because of this limitation, it is difficult for decentralized blockchains to be used on a mass scale by a global population.

A more viable path toward global world use of cryptocurrency is achieved by shifting splitting the role of the blockchain away off from day to day payment transaction processing and towards the role of instead using it as a settlement layer, thus permitting maximum decentralization of the blockchain , that is, recording the final settlements of transactions , while using inviting vertical and horizontal scaling technologies to increase – indirectly - the transaction capacity of blockchains. With vertical and horizontal scaling, rather than transactions taking place directly on the blockchain, they are instead conducted off the blockchain. Let’s look at the two, in turn.

Horizontal scaling utilizes involves sidechains, which are separate and independent blockchains Sidechains are linked to a parent blockchain through a two-way peg. This two-way peg makes it possible for cryptocurrency and other assets to be exchanged from between the parent blockchain to and the sidechain. As an example, a user can send some of their coins on from the parent blockchain a user sends some of their coins to a specific address, which locks them. After a small short waiting period, an equivalent amount of coins are released on to the sidechain. As sidechains are usually typically designed to with expanded increase functionality, the user may now have has access to lower cost transactions smart contracts, near instant payments and greater scalability. When he has finished using these expanded functions, the user can then settle back on return his coins to the parent blockchain , reversing the process by sending their coins to a specific sidechain address, which locks them. The coins on the parent chain are then unlocked and become spendable again .

Vertical scaling utilizes involves separate networks that are built specifically for large volume and high speed processing. These independent networks are not blockchains, but secondary layers that exist on top of the blockchain. Where Whereas we think of sidechains as allow allowing the blockchain to scale horizontally, secondary layers allow it to scale vertically.

Both solutions technologies prevent congestion on the main blockchain by allowing transactions to be offloaded onto off-chain networks, whether they be sidechains or secondary layers . In this way, the initial blockchain becomes the foundation records settlement of transactions processed by networks linked by of sidechains or secondary layers multiple chains and layers , hence the name settlement layer .

Peercoin’s creator Sunny King showed incredible forethought in 2012 when he anticipated the need for just such a layer which would not, in itself, carry high transaction loads. This means that, from the outset, Peercoin has the distinction that all of Peercoin’s its design choices were made with the this goal in mind of becoming the definitive settlement layer .

[ inserted from below ] We’ve discussed these design choices in videos 1 to 4; they include: removing the conflict of interests between miners and coin holders by allowing coin holders to mint their own blocks; achieving an efficient and inexpensive security protocol based on scarcity of time, rather than electricity; attaining geographical decentralization of block producers; allowing for 1% annual inflation to prevent deflation and to incentivize minting; and replacing transaction fees with a continuous block reward, as a means of compensating block producers.

Without a blockchain such as Peercoin as the base of the system, the underlying data that sidechains and secondary layers would be compromised. Any blockchain being used as a settlement layer must have integrity as a distributed public ledger which records and stores information in such a manner that prevents it from being edited or altered. This immutability means data becomes permanently recorded into the blockchain This leads leading to a state of trustless security, where all users of the network can depend on the blockchain’s ability to guarantee the accuracy and immutability permanence of recorded data. This security is the core value of the blockchain settlement layer and why it must have the characteristics of a blockchain like Peercoin. and the main reason why it is utilized used as the base of the network .

[ Suggest removing this entire paragraph; it is superceded by the new paragraphs on vertical and horizontal technologies ] Continuing with vertical scaling Independent layers built on top of the blockchain are designed to leverage the permanence of the data stored on the chain. These secondary layers undertake functions that the blockchain is incapable of achieving by itself, if it is to remain decentralized. Together, they form an important relationship. The blockchain records and stores information in a permanent manner, while secondary layers expand utility by creating new ways of interacting with that information.

One example of secondary layers in action development is the Lightning Network, developed designed to help scale the Bitcoin blockchain. Transactions are offloaded and processed through Lightning, while the blockchain is used to record final settlement, hence the name settlement layer . Lightning is only one example of a possible secondary layer application. Another example is a project called Open Transactions. Not only do secondary layers help solve transaction scaling issues, it also gives birth to a broader ecosystem of new utility with the blockchain as its settlement layer .

As Peercoin’s creator Sunny King intended showed incredible forethought in 2012 when he intended the Peercoin blockchain’s mission is to become this such a settlement layer. This shows incredible forethought, as Bitcoin did not adopt this strategy until years later after it became obvious the blockchain alone could not support transactions on a mass scale.

Peercoin’s distinction is that , from the outset, all of Peercoin’s design choices were made with the goal of becoming the definitive settlement layer. We’ve discussed these design choices in videos 1 to 4; they include: removing the conflict of interests between miners and coin holders by allowing coin holders to mint their own blocks; achieving an efficient and inexpensive security protocol based on scarcity of time, rather than electricity; attaining geographical decentralization of block producers; allowing for 1% annual inflation to prevent deflation and incentivize minting; and replacing transaction fees with a continuous block reward, as a means of compensating block producers.

Since providers of secondary layers and sidechains will certainly charge transaction fees, those that rely on settlement layers that also charge fees will be chasing the same customers for fees. Another area where Peercoin scores, therefore, is that, given These design choices mean Peercoin actually acts better as a settlement layer than blockchains that rely on security through transaction fees. Given that Peercoin’s security is maintained through a continuous block reward, and not transaction fees, there can never be competition for fees between Peercoin’s block producers and secondary layer node operators for transaction fees . This eliminates the conflict of interests that exist when both settlement and secondary layers chase the same users for fees.

Concluding paragraph

92

With edits incorporated, for ease of reading:

+++

In this video, we’re going to talk about Peercoin’s mission. In particular, we will focus on the role of the Peercoin blockchain itself. Sunny King, the anonymous founder of Peercoin, said in 2013: (pause)

“From my point of view, I think the cryptocurrency movement needs at least one ‘backbone’ currency, that maintains a high degree of decentralization, maintains a high level of security, but doesn’t necessarily provide a high volume of transactions.” (pause)

When Sunny talked about Peercoin as a backbone currency, he was actually introducing a concept that has since become known in the broader crypto community as a settlement layer.

In the early days of cryptocurrency, it was believed by many that decentralized blockchain networks would compete with other payment processing networks such as Visa or Mastercard, and even act as a replacement for paper money. However, in reality it turned out that decentralized blockchains struggle to support high transaction volumes. Because of this limitation, it is difficult for decentralized blockchains to be used on a mass scale by a global population.

A more viable path toward world use of cryptocurrency is achieved by splitting the role of the blockchain from day to day transaction processing and instead using it as a settlement layer, that is, recording the final settlements of transactions, while inviting vertical and horizontal scaling technologies to increase – indirectly - the transaction capacity of blockchains. With vertical and horizontal scaling, rather than transactions taking place directly on the blockchain, they are conducted off the blockchain. Let’s look at the two, in turn.

Horizontal scaling involves sidechains, which are separate blockchains linked to a parent blockchain through a two-way peg. This two-way peg makes it possible for cryptocurrency and other assets to be exchanged between the parent blockchain and the sidechain. As an example, a user can send some of their coins from the parent blockchain to a specific address, which locks them. After a short waiting period, the coins are released to the sidechain. As sidechains are typically designed to increase functionality, the user now has access to smart contracts, near instant payments and greater scalability. When he has finished using these expanded functions, the user can return his coins to the parent blockchain.

Vertical scaling involves separate networks that are built specifically for large volume and high speed processing. These independent networks are not blockchains, but secondary layers that exist on top of the blockchain. Whereas we think of sidechains as allowing the blockchain to scale horizontally, secondary layers allow it to scale vertically.

Both technologies prevent congestion on the main blockchain by allowing transactions to be offloaded onto off-chain networks. In this way, the initial blockchain records settlement of transactions processed by networks of sidechains or secondary layers, hence the name settlement layer.

Peercoin’s creator Sunny King therefore showed incredible forethought in 2012 when he anticipated the need for just such a layer which would not, in itself, carry high transaction loads. This means that, from the outset, Peercoin has the distinction that all its design choices were made with this goal in mind.

We’ve discussed these design choices in videos 1 to 4; they include: removing the conflict of interests between miners and coin holders by allowing coin holders to mint their own blocks; achieving an efficient and inexpensive security protocol based on scarcity of time, rather than electricity; attaining geographical decentralization of block producers; allowing for 1% annual inflation to prevent deflation and to incentivize minting; and replacing transaction fees with a continuous block reward, as a means of compensating block producers.

Without a blockchain such as Peercoin as the base of the system, sidechains and secondary layers would be compromised. Any blockchain being used as a settlement layer must have integrity as a distributed public ledger which records and stores information in such a manner that prevents it from being edited or altered. This immutability means data becomes permanently recorded into the blockchain leading to a state of trustless security, where all users of the network can depend on the blockchain’s ability to guarantee the accuracy and permanence of recorded data. This is the core value of the settlement layer and why it must have the characteristics of a blockchain like Peercoin.

One example of secondary layers in development is the Lightning Network, designed to help scale the Bitcoin blockchain. Transactions are offloaded and processed through Lightning, while the blockchain is used to record final settlement. Lightning is only one example of a secondary layer application. Another example is a project called Open Transactions.

Since providers of secondary layers and sidechains will certainly charge transaction fees, those that rely on settlement layers that also charge fees will be chasing the same customers for fees. Another area where Peercoin scores, therefore, is that, given that Peercoin’s security is maintained through a continuous block reward, and not transaction fees, there can never be competition for fees between Peercoin’s block producers and secondary layer node operators.

Concluding paragraph

93

I’ve read through this, but there are a lot of changes here. I’m going to need some more time with it.

One thing I’m not sure about is this claim…

I know layer 2 node operators charge transaction processing fees, but I’m unsure how it works with sidechains, or if it’s possible for the sidechain and the main chain to be in competition with each other for fees. I’m thinking that’s not how it works, but I need clarification on that.

1 Like
94

Yes, I was wondering about that as I wrote it - perhaps change “certainly” to “are likely to”.

95

It’s a clumsy sentence, I would drop it.

he → user

It’s a stretch to state that they are compromised. I think this sentence can be removed.

96

Rather than delete important sentences that have already previously been accepted but now changed, let’s maybe revert them to the previous state that was considered acceptable. I don’t want to make huge changes to the meaning of the text.

Edit: I am not referring to Robert’s edits here. There are some I like and some I don’t. As I said I’ll go through it today and work on it again.

97

We could remove “by a global population”.

Without a blockchain such as Peercoin as the base of the system, sidechains and secondary layers would be compromised.

My point here is not so much the compromise part, but that I wanted to get in “such as Peercoin” as the base of the system. We could change it to something like: “Sidechains and secondary layers need a blockchain such as Peercoin as the base of the system”

98

I think the original sentence was more accurate because it contained the words more easily…

Somewhere along the way it got removed. So rather than it being compromised, it would be easier or more likely to get compromised.

99

And before that it said this…

100

Don’t overthink it.

You can set the sidechain in any way you want. You could have a sidechain without fees and have it permissioned or whatever you like. With sidechains, the block producers of the main chain (settlement chain) are usually block producers on the sidechain as well, so there is no competition by definition.

As for vertical scaling, like LN or similar you can have that without “relay” fees as well. It’s just a matter of technical decision. Payment channels in general can be understood as vertical scaling and those do not carry additional fees.

101

I just wanted to post a quick update. I’ve been working on cleaning up the text after Robert’s updates. I agree with what he said in the quote above and I’m not changing anything in that regards. I will do what I can to post my updated version later this evening.

102

I should post this message from Peerchemist as well…