Skip to main content

Payments

Overview​

Alice wants to send funds to Bob inside the Ark.

  • All Ark payments and transactions are off-chain.
  • Bob doesn't need to have funds inside the Ark to receive funds. (ie. inbound liquidity problem)
  • Bob doesn't need to be online to receive funds
  • Bob wil be required to be online at least once every 4 weeks to keep his funds safe.

Timeline of events​

  1. Alice tells ASP to send VTXO to Bob
  2. ASP (with Alice) prepares next Pool transaction
  3. Alice creates a Forfeit transaction:
    • spends from VTXO (1) via Alice + ASP
    • adds connector output from Pool transaction (2) as input
    • signs (SIGHASH_ALL) and sends it to the ASP
  4. ASP broadcasts Pool transaction
  5. Bob has now a new VTXO
  6. For at most 4 weeks, Alice will be able to double spend her VTXO, but if she does it, the ASP will have time to grab the funds from the VTXO to itself using the Forfeit transaction