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BOLT 2: clarify what feerate-per-kw stands for and how it's calculated.

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Bitcoin still uses feerate-per-kb, which needs to be multiplied by 4
in segwit.  It's more than a little confusing.

Split the paragraphs, too, as it's a little overwhelming.

Reported-by: Olaoluwa Osuntokun <laolu32@gmail.com>
Signed-off-by: Rusty Russell <rusty@rustcorp.com.au>
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Rusty Russell 2016-11-24 14:09:51 +10:30
parent 1a1dc1e70f
commit d12f245b4d
1 changed files with 3 additions and 1 deletions
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02-peer-protocol.md
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@ -88,8 +88,10 @@ desire to set up a new channel.
The `temporary-channel-id` is used to identify this channel until the funding transaction is established. `funding-satoshis` is the amount the sender is putting into the channel. `dust-limit-satoshis` is the threshold below which output should be generated for this node’s commitment or HTLC transaction; ie. HTLCs below this amount plus HTLC transaction fess are not enforceable onchain. This reflects the reality that tiny outputs are not considered standard transactions and will not propagate through the bitcoin network.
`max-htlc-value-in-inflight-msat` is a cap on total value of outstanding HTLCs, which allows a node to limit its exposure to HTLCs; similarly `max-accepted-htlcs` limits the number of outstanding HTLCs the other node can offer. `channel-reserve-satoshis` is the minimum amount that the other node is to keep as a direct payment. `htlc-minimum-msat` indicates the smallest value HTLC this node wil accept. `feerate-per-kw` indicates the initial fee rate which this side will pay for commitment and HTLC transactions as described in [BOLT #3](03-transactions.md#fee-calculation) (this can be adjusted later with a `update_fee` message). `to-self-delay` is the number of block that the other nodes to-self outputs must be delayed, using `OP_CHECKSEQUENCEVERIFY` delays; this is how long it will have to wait in case of breakdown before redeeming its own funds.
`max-htlc-value-in-inflight-msat` is a cap on total value of outstanding HTLCs, which allows a node to limit its exposure to HTLCs; similarly `max-accepted-htlcs` limits the number of outstanding HTLCs the other node can offer. `channel-reserve-satoshis` is the minimum amount that the other node is to keep as a direct payment. `htlc-minimum-msat` indicates the smallest value HTLC this node wil accept.
`feerate-per-kw` indicates the initial fee rate by kiloweight (ie. 4 times by the more normally-used 'feerate per kilobyte') which this side will pay for commitment and HTLC transactions as described in [BOLT #3](03-transactions.md#fee-calculation) (this can be adjusted later with a `update_fee` message). `to-self-delay` is the number of block that the other nodes to-self outputs must be delayed, using `OP_CHECKSEQUENCEVERIFY` delays; this is how long it will have to wait in case of breakdown before redeeming its own funds.
The `funding-pubkey` is the public key in the 2-of-2 multisig script of the funding transaction output. The `revocation-basepoint` is combined with the revocation preimage for this commitment transaction to generate a unique revocation key for this commitment transaction. The `payment-basepoint` and `delayed-payment-basepoint` are similarly used to generate a series of keys for any payments to this node: `delayed-payment-basepoint` is used to for payments encumbered by a delau. Varying these keys ensures that the transaction ID of each commitment transaction is unpredictable by an external observer, even if one commitment transaction is seen: this property is very useful for preserving privacy when outsourcing penalty transactions to third parties.