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Patrick Lemke 2020-02-20 17:42:51 +01:00
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@ -40,7 +40,7 @@ Additionally these contracts have the option to connect channels in a way that o
For example, Alice can send money to Bob if Alice had a channel with Mallory and Mallory had a channel with Bob. For example, Alice can send money to Bob if Alice had a channel with Mallory and Mallory had a channel with Bob.
By the design of the Lightning Network, it is possible to extend the smart contracts which operate the channel so that Mallory has no way of stealing the funds that are being routed through her. By the design of the Lightning Network, it is possible to extend the smart contracts which operate the channel so that Mallory has no way of stealing the funds that are being routed through her.
Not only does the construction of the payment channel work for the partners without the necessity to trust each other but the entire network works without the necessity to trust any other participant. Not only does the construction of the payment channel work for the partners without the necessity to trust each other but the entire network works without the necessity to trust any other participant.
Since the channels are funds on a multisignature addresses and as the contracts are unpublished but presigned bitcoin transactions, all the trust that is needed to operate the Lightning Network comes from the trust in the decentralized Bitcoin network! Since the channels are funds on multisignature addresses and as the contracts are unpublished but presigned Bitcoin transactions, all the trust that is needed to operate the Lightning Network comes from the trust in the decentralized Bitcoin network!
The aforementioned innovations are certainly the major breakthrough that allow the creation of the Lightning Network. The aforementioned innovations are certainly the major breakthrough that allow the creation of the Lightning Network.
However the Lightning Network is so much more than the cryptographic protocols on top of the Bitcoin scripting language. However the Lightning Network is so much more than the cryptographic protocols on top of the Bitcoin scripting language.