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Lightning Network

Lightning Network

The Lightning Network is a decentralized network utilizing smart contract functionality to enable off-chain transactions with cryptographic confidence of on blockchain enforceability.

OverviewStructured DataIssuesContributors

Contents

lightning.network
Is a
Technology
Technology

Technology attributes

Related Industries
Blockchain
Blockchain
Implementations
Mash
Mash
‌
Eclair
‌
lit
Lightning Network Daemon
Lightning Network Daemon

Other attributes

CEO
Joseph Poon
Joseph Poon
Founder
Joseph Poon
Joseph Poon
Industry
Blockchain
Blockchain
Cryptocurrency
Cryptocurrency
Payment system
Payment system
Layer 1 Technology
Bitcoin
Bitcoin
License
83986
Source Code
github.com/ACINQ/eclair
github.com/ElementsP.../lightning
github.com/mit-dci/lit
github.com/lightning...etwork/lnd
Wikidata ID
Q30325114

The Lightning Network (LN) is a 2nd-layer blockchain scaling solution intended to increase the transaction throughput of Bitcoin and other similar cryptocurrencies. New users can connect to the Lightning Network by opening bi-directional payment channels with other users, allowing them to route payments to one another.

Blockchains that have LN implemented can drastically reduce the burden of on-chain transaction processing. Using a LN payment channel requires only two on-chain transactions: the first which opens the channel, and the last which closes it. All of the transactions in between can be processed more efficiently off-chain, while maintaining the trustlessness of the original blockchain.

The two parties participating in any given transaction do not need to have a payment channel connecting them directly. Transactions can be anonymously routed through multiple bi-directional channels before reaching their final destination.

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Further Resources

Title
Author
Link
Type
Date

Bitcoin Lightning Address & QR Code

Jared Nusinoff

https://mash.com/blog/bitcoin-lightning-address-and-qr-code

Web

December 8th, 2022

Bitcoin's Lightning Network, Simply Explained!

https://www.youtube.com/watch?v=rrr_zPmEiME

December 12, 2017

Lightning Network in Practice

Jake Yocom-Piatt

https://blog.decred.org/2017/05/23/Lightning-Network-in-Practice/

Web

The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments

Joseph Poon, Thaddeus Dryja

https://lightning.network/lightning-network-paper.pdf

Web

What is the Lightning Network and how can it help bitcoin scale?

Elizabeth Stark

https://coincenter.org/entry/what-is-the-lightning-network

Web

References

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