Implementation of the Lightning Network Protocol by the Victoria-based Blockstream. It is written in C.
Implementation of the Lightning Network Protocol by the Victoria based company Blockstream. It is written in C.
Closing Transaction::
If both channel partners agree to close a channel they will create an exercise settlement transaction that reflects the most recent commitment transaction.
@ -122,7 +122,7 @@ Commitment Transaction::
When payments are being made or forwarded through the channel, a double-spend of the commitment transactions is made by creating a new pair of commitment transactions.
One output also holds a Revocable Sequence Maturity Contract which is made to disincentivize a channel partner to broadcast an old commitment transaction to the Bitcoin network.
This effectively invalidates old commitment transactions.
Broadcasting a commitment transaction forces a unilateral channel close.
Broadcasting a commitment transaction forces an unilateral channel close.
Up to 483 Hashed Time Lock Contracts can be stored as additional outputs in the commitment transaction to allow the routing of payments.
In order to be able to ascribe blame in the case of unilateral channel closes, each channel partner has a slightly different commitment transaction.
// TODO probably don't explain the difference with the RSMC here
@ -169,7 +169,8 @@ Eclair::
Implementation of the Lightning Network Protocol by the Paris based company ACINQ. It is written in Scala.
encoding::
TBD.
Encoding is the process of converting a message into a different form.
For example, converting a human-readable form to a digitally space-efficient form.
Electrum Server::
An Electrum server is a bitcoin node with an additional interface (API) is often required by bitcoin wallets that do not run a full node. For example, these wallets check the status of specific transactions or broadcasts transactions to the mempool using Electrum sever APIs. Some Lightning wallets also use Electrum servers, so even if they are non-custodial, they may compromise user sovereignty in that users trust the Electrum server to provide accurate information and privacy in that calls made to the Electrum server may reveal private information.
@ -208,7 +209,7 @@ Gossip Protocol::
hardware wallet::
A hardware wallet is a special type of Bitcoin wallet, which stores the user's private keys in a secure hardware device.
Currently hardware wallets are not available for lightning network nodes as user nodes need to be online to follow through the protocol.
Currently, hardware wallets are not available for lightning network nodes as user nodes need to be online to follow through the protocol.
Several groups are working on solutions.
hash::
@ -271,7 +272,7 @@ multisignature::
In the standard case of a two-party payment channel a 2-2 multisignature address is used.
Neutrino::
Neutrino is a later alternative to SPV that also verifies whether certain transactions are contained in a block without downloading the entire block. However, it offers a number of improvements over SPV: Neutrino does not transmit any information that would allow a third party to determine users’ identities, it facilitates the use of non-custodial apps, and it reduces the computational load on full nodes. The tradeoff for these improvements is that Neutrino requires more data from the full node than SPV.
Neutrino is a later alternative to SPV that also verifies whether certain transactions are contained in a block without downloading the entire block. However, it offers a number of improvements over SPV: Neutrino does not transmit any information that would allow a third party to determine users’ identities, it facilitates the use of non-custodial apps, and it reduces the computational load on full nodes. The trade-off for these improvements is that Neutrino requires more data from the full node than SPV.
Noise_XK::
The template of the Noise protocol framework to establish an authenticated and encrypted communication channel between two peers of the lightning network.
@ -294,7 +295,8 @@ output::
Output, transaction output, or TxOut is an output in a transaction which contains two fields: a value field for transferring zero or more satoshis and a pubkey script for indicating what conditions must be fulfilled for those satoshis to be further spent.
P2PKH::
Transactions that pay a Bitcoin address can contain P2PKH or Pay To PubKey Hash scripts. An output locked by a P2PKH script can be unlocked (spent) by presenting a public key and a digital signature created by the corresponding private key.
P2PKH or Pay-to-PubKey-Hash is a type of transaction that pays a Bitcoin address that contain P2PKH scripts.
An output locked by a P2PKH script can be unlocked (spent) by presenting a public key and a digital signature created by the corresponding private key.
P2SH::
P2SH or Pay-to-Script-Hash is a powerful type of transaction that greatly simplifies the use of complex transaction scripts. With P2SH the complex script that details the conditions for spending the output (redeem script) is not presented in the locking script. Instead, only a hash of it is in the locking script.
@ -454,7 +456,8 @@ Transaction Malleability::
Segregated Witness soft fork addresses this issue and therefore is an important upgrade to support Lightning network.
Transport Layer::
TBD.
In computer networking, the transport layer is a conceptual division of methods of a model of how computers talk to each other.
Transport Layer provide communication services between computers such as flow control, verification, and multiplexing (to allow multiple applications to work on a computer at the same time).
unspent transaction output (UTXO)::
UTXO is an unspent transaction output that can be spent as an input to a new transaction.
Andreas M. Antonopoulos
4 years ago
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