Hi, thanks for the interest! Actually, there is no ledger (:
Every two nodes that setup mutual credit maintain the balance between them. This turns out to be enough to be able to send funds across a chain of nodes in a secure manner.
Some of the general idea can be found here:
https://offst.readthedocs.io/en/latest/theory/
It is a bit outdated given the modifications of the last few months, but I think it is still relevant enough to give you a better view of how things work.
Every two nodes that setup mutual credit maintain the balance between them. This turns out to be enough to be able to send funds across a chain of nodes in a secure manner.
Some of the general idea can be found here: https://offst.readthedocs.io/en/latest/theory/ It is a bit outdated given the modifications of the last few months, but I think it is still relevant enough to give you a better view of how things work.