A problem is considered to be computationally hard if no algorithm exists or is known that is able to compute the solution to the problem rather quickly.
confirmations::
Once a transaction is included in a block, it has one confirmation. As soon as _another_ block is mined on the same blockchain, the transaction has two confirmations, and so on. Six or more confirmations are considered sufficient proof that a transaction cannot be reversed.
@ -134,7 +134,10 @@ Digital Signature::
double-spending::
Double-spending is the result of successfully spending some money more than once.
Bitcoin protects against double-spending by verifying each transaction added to the blockchain plays by the rules that the inputs for the transaction have not previously already been spent.
The Revocable Sequence Maturity Contracts used to construct payment channels heavily attempt to double-spend bitcoin.
The Revocable Sequence Maturity Contracts used to construct payment channels heavily attempt to double-spend bitcoin.
downstream payment::
tbd.
ECDSA::
Elliptic Curve Digital Signature Algorithm or ECDSA is a cryptographic algorithm used by Bitcoin to ensure that funds can only be spent by their rightful owners.
@ -166,6 +169,12 @@ Funding Transaction::
Due to its multisig nature, it can only be spent mutually.
It is part of the rsmc to ensure that either side of the channel can withdraw their funds without the necessity to trust the channel partner.
Globalfeatures::
Globalfeaturess of a Lightning Network node are the features of interest for all other nodes.
Most commonly they are related to supported routing formats.
They are announced in the `_init_` message of the peer protocol as well as the `_channel_announcement_` and `_node_announcement_` messages of the gossip protocol.
Gossip Protocol::
Lightning Network nodes send and receive information about the topology of the Lightning Network through gossip messages which are exchanged with their peers.
The gossip protocol is mainly defined in BOLT 7 and defines the format of the _node_announcement_, _channel_announcement_ and _channel_update messages_.
@ -213,7 +222,11 @@ Lightning Network Node::
lnd::
Implementation of the Lightning Network Protocol by the San Francisco based company Lightning Labs.
It is written in Go.}}
It is written in Go.
Localfeatures::
Localfeaturess of a Lightning Network node are the features of direct interest of the peer.
They are announced in the `_init_` message of the peer protocol as well as the `_channel_announcement_` and `_node_announcement_` messages of the gossip protocol.
Locktime::
Locktime, or more technically nLockTime, is the part of a transaction which indicates the earliest time or earliest block when that transaction may be added to the block chain.
@ -360,6 +373,14 @@ Segregated Witness::
SHA::
The Secure Hash Algorithm or SHA is a family of cryptographic hash functions published by the National Institute of Standards and Technology (NIST).
short channel id (scid)::
Once a channel is established the index of the funding transaction on the blockchain is used as the short channel id to uniquely identify the channel.
The short channel id consists of 8 bytes referring to 3 numbers.
In its serialized form it depicts these 3 numbers as decimal values separated by the letter **x**.
The first number (4 bytes) is the block height.
The second number (2 bytes) is the index of the funding transaction with the blocks.
The last number (2 bytes) is the transaction output.
Simplified Payment Verification (SPV)::
SPV or simplified payment verification is a method for verifying particular transactions were included in a block without downloading the entire block. The method is used by some lightweight Bitcoin clients.
@ -399,6 +420,9 @@ Transport Layer::
unspent transaction output (UTXO)::
UTXO is an unspent transaction output that can be spent as an input to a new transaction.
upstream payment::
tbd.
wallet::
Software that holds all your bitcoin addresses and secret keys. Use it to send, receive, and store your bitcoin.
Rene Pickhardt
5 years ago