Soft-Fork/Covenant Dependent Layer 2 Review

On-chain wallets achieve a roughly 1-1 mapping of transactions to transactions: for every economic transaction that a user performs, roughly one blockchain transaction is needed. Aggregations, coinjoin, cut-through-payments, etc. change this statement a bit. But it’s roughly correct. Lightning achieved a many-to-one mapping of transactions to transactions: the magic of Lightning is that an…