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The Chaincode Podcast
Nadav Kohen and Payment Points - Episode 7
Mar 30, 2020
In this episode, Nadav Kohen of Suredbits discusses payment points as an alternative to HTLCs on the Lightning Network. They cover topics such as timelocks, PTLCs, proof of payment, invoiceless transactions, and stuckless payments. They also explore the use of Schnorr signatures and contingent payments. Overall, an intriguing conversation on the potential of payment points.
49:44
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Quick takeaways
- Payment points offer improved privacy and payment decorrelation on the Lightning Network compared to HTLCs.
- Payment points enable contingent payments, escrow contracts, and atomic multi-payment setups, expanding the capabilities of the Lightning Network.
Deep dives
Payment points and privacy leaks
Currently on the Lightning Network, every hop along a payment route can know they're on the same route because every HTLC uses the same hash. This privacy leak is worsened by multi-path payments. Payment points, a potential upgrade to the Lightning Network, offer advantages over HTLCs, including improved privacy. With payment points, instead of revealing the preimage to a hash, the sender reveals the scalar to a point. This prevents nodes from deducing the entire payment route and enables payment decorrelation. Further, payment points provide protection against wormhole attacks, where nodes steal fees and hold funds hostage.
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