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Andreas M. Antonopoulos 2020-07-30 10:00:01 -04:00
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03_how_ln_works.asciidoc
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@ -721,7 +721,7 @@ Both Bitcoin transactions and Lightning payments are irreversible and immutable.
==== Trust and counterparty risk
Just as Bitcoin, Lightning requires the user only to trust mathematics, encryption, and that the software does not have any critical bugs. Neither Bitcoin nor Lightning require the user to trust a person, a company, an institution, or a government.
Since Lightning sits on top of Bitcoin and relies on Bitcoin as its underlying base layer, it is clear that the security model of Lightning reduces to the security of Bitcoin.
Since Lightning sits on top of Bitcoin and relies on Bitcoin as its underlying base layer, it is clear that the security model of Lightning reduces to the security of Bitcoin. This means that Lightning offers broadly the same security as Bitcoin under most circumstances, with only a slight reduction in security under some narrow circumstances.
==== Permissionless operation