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.
All edits
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.
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.
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 securely and quickly route payments throughout the network at veryto lowone costanother.
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.
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 far more efficiently, while maintaining the trustlessness of the original blockchain.
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 securely and quickly route payments throughout the network at very low cost.
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 far more efficiently, while maintaining the trustlessness of the original blockchain.
Lightning Labs launched the 4th major release of their protocol, Lightning Network Daemon (lnd), which was the first Lightning mainnet beta.
Joseph Poon and Thaddeus Dryja publish a paper outlining Bitcoin's scalability problem and proposing a solution that uses bi-directional payment channels.
Find more entities like Lightning Network
