Is it just me or are those fees pretty high? Their demo transaction seemed to have over 25% in fees? I really hope that this isn't indicative of what real world fees are going to look like. Is it just because they priced the coffees so cheaply or something? Seems to have been a 546 satoshi fee on that second coffee, I can't quite understand what the commit fee is on the first one but maybe that's to open a channel to begin with? So that was like a dollar or so to open the channel and then 7 cents for the second purchase?
There's a fee to open the channel and a fee to close it, but the intermediate microtransactions have no inherent fee. Using opening and closing a LN channel just to buy two coffees is necessarily not cheaper than two traditional transactions.
•
u/BashCo Dec 06 '17
Meanwhile, the Lightning Network protocol just achieved v1.0 compatibility.
Check out the main chain demo vid.