BH2022: "Watchtowers" by Sergi Delgado

Sergi Delgado's presentation on Baltic Honeybadger 2022.

In the Lightning Network, watchtowers are services that help ensure the security of payment channels. The Lightning Network is a second-layer scaling solution for Bitcoin that enables faster and cheaper transactions by creating off-chain payment channels. These channels are essentially private agreements between users that allow them to transact off the main blockchain.

Watchtowers are third-party services that monitor the blockchain for any attempts to close a channel with an old or invalid state. If a dishonest party tries to broadcast an outdated channel state, the watchtower detects this and can submit the correct, up-to-date channel state to the blockchain on behalf of the victim. This helps prevent cheating and ensures that participants in the Lightning Network are held accountable for their actions.

The use of watchtowers adds an additional layer of security to Lightning Network transactions and helps discourage malicious behavior. It's important to note that watchtowers operate as a service, and users can choose to run their own watchtower or rely on existing ones provided by the Lightning Network community.

https://baltichoneybadger.com

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