The Lightning Network (LN) is a second-layer peer-to-peer network that allows us to make Bitcoin payments "off-chain", meaning without committing them as transactions to the Bitcoin blockchain.
The Lightning Network (LN) is a second-layer peer-to-peer network that allows us to make Bitcoin payments "off-chain," meaning without committing them as transactions to the Bitcoin blockchain.
LN gives us Bitcoin payments that are secure, cheap, fast, and much more private, even for very small payments.
LN gives us Bitcoin payments that are secure, cheap, fast, and much more private, even for very small payments.
Building on the idea of payment channels, first proposed by Bitcoin's inventor Satoshi Nakamoto, the Lightning Network is a routed network of payment channels where payments "hop" across a path of payment channels from the sender to the recipient.
The initial idea of the Lightning Network was proposed in 2015 in the groundbreaking paper _""The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments"_ by Joseph Poon and Thaddeus Dryja. By 2017 there was a "test" Lightning Network running on the internet, as different groups build compatible implementations and coordinated to set some interoperability standards. In 2018 the Lightning Network went "live" and payments started flowing.
The initial idea of the Lightning Network was proposed in 2015 in the groundbreaking paper "The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments", by Joseph Poon and Thaddeus Dryja. By 2017, there was a "test" Lightning Network running on the internet, as different groups built compatible implementations and coordinated to set some interoperability standards. In 2018, the Lightning Network went "live" and payments started flowing.
In 2019 Andreas M. Antonopoulos, Olaoluwa Osuntokun, and René Pickhardt agreed to collaborate to write this book. It appears we have been successful!
In 2019, Andreas M. Antonopoulos, Olaoluwa Osuntokun, and René Pickhardt agreed to collaborate to write this book. It appears we have been successful!
=== How to Use This Book
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=== Sources
Some of the material in this book has been sourced from a variety of public-domain sources, open-licensed sources, or by permission. See <<sources_licenses>> for source, license and attribution details.
Some of the material in this book has been sourced from a variety of public domain sources, open license sources, or with permission. See <<sources_licenses>> for source, license, and attribution details.
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3 years ago