What is ExitPay ? ExitPay is a third-party host which self-hosts a BTCPay Server instance and enables other users to register and use the server for free. While, third-party hosts provide an easy and cost-effective way for users to try…
Tag: Payment Channel
A payment channel is a financial relationship between two nodes on the Lightning Network, created using a multisignature Bitcoin transaction. The channel partners can use the channel to send Bitcoin back and forth between each other without committing all of the transactions to the Bitcoin blockchain. In a typical payment channel only two transactions, the funding transaction and the commitment transaction, are added to the blockchain. The other transactions are not included in the blockchain and are said to occur “off-chain”. There are various methods of constructing a payment channel discussed further in the chapter on channel construction.