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[preface]
[[glossary]]
== Quick Glossary
== Glossary
This quick glossary contains many of the terms used in relation to Bitcoin. These terms are used throughout the book, so bookmark this for a quick reference.
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TODO:
Some additional definitions, to be cleaned up and moved into alphabetic order are in the commented-out area below
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* 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.
* channel: a channel is a financial relationship between two nodes on the Lightning Network. Two users can open a channel with each other using a Bitcoin transaction, and transact with each other by moving bitcoin from one side of the channel to the other.
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[glossary]
address::
A Bitcoin address looks like +1DSrfJdB2AnWaFNgSbv3MZC2m74996JafV+. It consists of a string of letters and numbers. It's really an encoded base58check version of a public key 160-bit hash. Just as you ask others to send an email to your email address, you would ask others to send you bitcoin to one of your Bitcoin addresses.
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penalty transaction::
Look at the Breach Remedy Transaction.
private channel:
private channel::
A channel not announced to the rest of the network.
Technically "private" is a misnomer as these channels can still be identified through routing hints and commitment transactions.
We suggest they are better described as "unannounced" channels.