If you have a custodial wallet: Literally nothing, the wallet handles everything. You don’t even need to know what a channel is.
If you have a self-custody wallet: Install it on your phone and make sure you can connect to the internet once every 5 days. You don’t have to open the wallet, some background service does everything automatically. Most wallets have built-in automatic watchtowers, so you don’t ever need to connect to the internet and somebody else watches the channel for you.
The attacks you can do in lightning are very limited. Basically the only one you can do is force close a channel and broadcast an old state on-chain. But your other party in the channel can correct you by publishing the more recent state. They have several days to do this. If you tried to cheat this way, not only do you not get the coins you wanted, but there is a penalty as well. You lose money. So nobody ever does it.
There’s about 200M USD currently locked up in lightning contracts. If you think you can hack lighting, have at it. The best hackers in the world have tried, they have all failed.
I stated the reason for it being phased in: prioritizing transactions.
Tell me how to keep a channel open without risking loss of funds through flood and loot attacks.
The attacks you can do in lightning are very limited. Basically the only one you can do is force close a channel and broadcast an old state on-chain. But your other party in the channel can correct you by publishing the more recent state. They have several days to do this. If you tried to cheat this way, not only do you not get the coins you wanted, but there is a penalty as well. You lose money. So nobody ever does it.
There’s about 200M USD currently locked up in lightning contracts. If you think you can hack lighting, have at it. The best hackers in the world have tried, they have all failed.
https://bitcoinvisuals.com/ln-capacity