Comment by @harfang • Hey

But timelocks come with some disadvantages, this is why we will use Asymmetric revocable commitments. In our example Irene and Hitesh exchange Bitcoin. For

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Now we introduce a revocation key that prevents a cheater from broadcasting an expired tx. The revocation key allows the betrayed party to punish the cheater by taking the entire balance of the channel. The key is composed of two secrets each one generated by both parties. So each one knows the public revocation key but only half of the private key. Each round they reveal their secret. So the tx can be revoked. If Hitesh tries to cheat Irene will revoke the tx and take all the funds before the timelock.