You open a program, it downloads and verified the latest block which takes less than a second. You are then synced to the chain.
You immediately get an address that you can send NPT to. Once you’ve sent NPT to that address from e.g. an exchange, the program automatically opens up a lightning channel.
This takes up one to two block times to be mined, so 5–20 minutes with the current block time. The opening of this channel only happens once, on each device.
Once the channel is open, you can send NPT, or other assets, everywhere in the world, instantaneously. Because of succinct block validation, program is a full node. And it is simultaneously a lightning wallet. Money can be sent immediately after the program is opened, even if the device was turned off.
To be clear, this application has not been programmed yet. But this is what Neptune’s technology can offer once succinctness has been activated.
Some challenges arise from this vision:
- on-ramp: How do people buy their first NPT?
- channel closure: If the wallet is not always online, how does it react if the counterparty to the lightning channel maliciously closes the channel in their favor? I think it’ll have to outsource this preventive channel closure somehow.