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26 lines
1.2 KiB
Markdown
26 lines
1.2 KiB
Markdown
---
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sidebar_position: 3
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title: 'Payments'
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---
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### Overview
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Alice wants to send funds to Bob inside the Ark.
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- All Ark payments and transactions are off-chain.
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- Bob doesn't need to have funds inside the Ark to receive funds. (ie. inbound liquidity problem)
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- Bob doesn't need to be online to receive funds
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- Bob wil be required to be online **at least once every 4 weeks** to keep his funds safe.
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### Timeline of events
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1. Alice tells ASP to send [VTXO](./nomenclature#vtxo-1) to Bob
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2. ASP (with Alice) prepares next [Pool transaction](./nomenclature#pool-transaction-aka-ark-transaction)
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3. Alice creates a [Forfeit transaction](./nomenclature#forfeit-transaction):
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- spends from VTXO (1) via `Alice + ASP`
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- adds connector output from Pool transaction (2) as input
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- signs (SIGHASH_ALL) and sends it to the ASP
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4. ASP broadcasts [Pool transaction](./nomenclature#pool-transaction-aka-ark-transaction)
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5. Bob has now a new [VTXO](./nomenclature#vtxo-1)
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6. For at most 4 weeks, Alice will be able to double spend her [VTXO](./nomenclature#vtxo-1), but if she does it, the ASP will have time to grab the funds from the [VTXO](./nomenclature#vtxo-1) to itself using the [Forfeit transaction](./nomenclature#forfeit-transaction)
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