A Scaling Breakthrough for the Lightning Network

John Law has just published a fascinating proposal to allow for much improved scaling of the Lightning Network.

https://github.com/JohnLaw2/btc-iids/blob/main/iids13.pdf

This new protocol (named Inherited IDs) would completely replace the proposed Eltoo protocol, and greatly improves it by allowing multiple Lightning channels to be opened (or modified) with a single on-chain transaction, saving thousands or millions of transactions.

This can be implemented via a Bitcoin soft fork.

The proposal appears well thought-out and sensible at first glance, but perhaps my brain just isn't big enough to pinpoint any flaws in the proposal...