In this chapter we introduce the Lightning Network (LN), and introduce some of the key concepts without going into too much detail. We also present a number of users and their stories, who we will follow throughout the book to help us explore the Lightning Network in practical terms. Finally, we introduce our first user 'Alice' as she selects an LN wallet and prepares to make her first LN transaction, to buy a cup of coffee from Bob's Cafe.
The first and second chapters of this book should be approachable by any reader, regardless of technical experience. Some basic knowledge about Bitcoin is assumed but can be readily acquired by reading the first two chapters of _Mastering Bitcoin_ which are available for free, online.
=== What is the Lightning Network?
The Lightning Network (LN) is a "second layer" protocol on top of Bitcoin and other blockchains that enables fast, secure, private, trustless and permissionless payments.
@ -32,8 +36,6 @@ Aside from reducing the burden on nodes, these transactions will be cheaper for
While the Lightning Network was initially conceived for Bitcoin, it is able to be implemented on any blockchain that meets its technical requirements.
// TODO
=== Lightning Network Basic Concepts
* Blockchain: a single distributed ledger agreed upon by a network of participating nodes. The Lightning Network does not use a blockchain to transact, but requires transactions recorded in a blockchain in order for Bitcoin to enter and leave the network.
@ -53,8 +55,6 @@ While the Lightning Network was initially conceived for Bitcoin, it is able to b
* Wallet: an application that manages private keys in order to send and receive Bitcoins. Lightning Wallets have additional features over and above Bitcoin Wallets in that they can open and close channels, and send and receive lightning payments.
// TODO Introduce and briefly explain the basic concepts of the LN
[[user-stories]]
=== Lightning Network Uses, Users, and Their Stories
Andreas M. Antonopoulos
5 years ago