Jump to navigation Jump to search

Bitcoin (BTC) is an open-source, decentralized cryptocurrency that utilizes a Proof-of-Work algorithm.

On October 31, 2008, a user by the name of Satoshi Nakamoto published a white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System to the Cryptography Mailing List. On January 3, 2009, the Genesis block was mined by Satoshi and on January 9, 2009, Bitcoin v0.1 was released.

Lightning can be used with Bitcoin as a "backing" blockchain.



Role of Bitcoin in Lightning

If you have a connection with someone, you are using the Lightning Network. You assume they will behave. If they don't, you can always "fall back" to the bitcoin blockchain, settling your balances and getting your money.