In a thread posted to the r/Bitcoin group on Dec. 1, Redditor ZipoTm revealed that the Lightning group had given him “large help” by serving to him to save lots of his cash, with most of them now recovered.
Don’t Panic, WAIT
As reported, the Lightning Network is a second-layer answer to Bitcoin’s scalability limitations, which works by opening fee channels between customers that preserve the vast majority of transactions off-chain, turning to the underlying blockchain solely to document the online outcomes.
In his publish, ZipoTm gave particulars of the 5 profitable steps he had taken to recuperate most of his funds.
The primary concerned, the place potential, the cooperative closure of the channels which have funds on seed, with the following Four entailing varied force-closures and unilateral measures to close down the still-open channels:
“Step 1: coop-closed channels with funds on seed
Step 2: distant force-closed channels with perCommitPoint in channel.db
Step 3: distant force-closed channels the place now we have to ask friends for the perCommitPoint
Step 4: strive with SCB [static channel backup]once more with remaining channels
Step 5: nonetheless open channels, strive force-closing with previous stat”
By means of further recommendation, ZipoTm endorsed customers looking for to force-close channels to all the time do that manually, channel by channel, and when their node is absolutely synced.
He highlighted the usefulness of making static channel backups, or SCBs, every time after opening a brand new channel and safeguarding the related 24-word seed.
Lastly, he warned to not panic however to attend after every step and to completely analysis how the system works earlier than utilizing it to ship important quantities of BTC.
Code of ethics
This fall, Cointelegraph reported that Keith Mali Chung — the co-founder and president of African blockchain agency Loopblock Community — returned nearly $80,00zero price of Bitcoin that had mistakenly been despatched to his pockets.