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RSMC (Recoverable Sequence Maturity Contract) sequence expiration revocable contract defines the basic working method of Lightning Network transactions. It provides a trustless method that can accurately record the asset distribution of Bob and Alice in the channel. For example, at the beginning, Bob and Alice each have 5btc; after one transaction, the asset allocation in the channel is changed to Alice: 3btc, Bob: 7btc; after another transaction, the asset allocation in the channel is changed to Alice: 4btc, Bob: 6btc. RSMC technology can achieve the following two points:
During the transaction between Alice and Bob, the asset distribution can be accurately recorded when the two parties do not trust each other and the transaction is not broadcast.
Every time Alice and Bob conduct a new transaction, the old transaction can be abolished, and the latest transaction shall prevail for asset allocation
Below, I will introduce the technical details of the RSMC implementation in detail.
Following the above results, the multi-signature address A1B1 has 10 btc, and Bob and Alice each account for half of the assets as the starting capital pool for the transaction. In the subsequent transaction process, many btc addresses will be used. Among them, Alice owns A1, A2, A3..., Bob owns B1, B2, B3... At the same time, many multi-signature addresses will also be used, such as B2A1, A1B2 ...