lightningwiki.net lnwiki http://lightningwiki.net/index.php?title=Main_Page MediaWiki 1.37.0 first-letter Media Special Talk User User talk Lightningwiki.net Lightningwiki.net talk File File talk MediaWiki MediaWiki talk Template Template talk Help Help talk Category Category talk 0 1 1612 1119 2021-02-01T09:50:18Z MiltonPusser 2 1612 wikitext text/x-wiki {| |<strong>Thunderbolts and lightning, very very... exciting!</strong> Lightning enables quick, cheap and scalable Bitcoin payments. The Lightning [[Network]] scales blockchains and enables trust-minimized instant [[Payment|payments]] by keeping most transactions off-chain and leveraging the security of the underlying [[Bitcoin|blockchain]] as an arbitration layer. This is accomplished primarily through "[[Channels|payment-channels]]”, wherein two parties commit funds and pay each other by updating the balance redeemable by either party in the [[Channel|channel]]. This process is instant and saves users from having to wait for [[On-chain transactions|block confirmations]] before they can render goods or [[Services|services]]. [[Channels|Payment channels]] are trust-minimized, since any attempt to [[Fraud|defraud]] the current agreed-upon balance in the channel results in the complete forfeiture of funds by the liable party. By moving payments off-chain, the cost of opening and closing channels (in the form of [[On-chain transactions|on-chain]] transaction fees) is ammortized over the volume of payments in that channel, enabling [[Payment|micropayments]] and small-value transactions for which the [[On-chain transactions|on-chain]] transaction fees would otherwise be too expensive to justify. Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. All of this with low [[Fees]]. [[Hash Time-Locked Contracts]] (HTLCs) allow transactions to be sent between parties who do not have a direct channels by routing it through multiple hops, so anyone connected to the Lightning Network is part of a single, interconnected global financial system. In short, the Lightning Network enables scalable blockchains through a high-volume of instant transactions not requiring custodial delegation. <!-- ---------------------------------------------- --> | [[File:Lightningwiki.png|200px|center|link=Quick Start]] * Read the '''[[Quick Start]]''' article. * Read (or write) about [[How Lightning Works]], [[Node|Nodes]], [[Invoice|Invoices]], [[Channels]], [[Wallets]], [[Services]], [[Shops accepting Lightning Payments|shops]] or read information on [[Editing the wiki‎|editing the wiki]]. For questions use the contact form on [[Wiki contact]]. * [[Talk:Main_Page|Leave feedback]] * Read the [[FAQ]] or [[HOWTO]] page * Toss over the [[Wiki Torch]] * Existing nodes on [[:Category:Node]]. That page also has instructions on how to add your node. * Links to [[Resources]] * [[Editing the wiki‎|Write pages]]. [https://lightningwiki.net/index.php?title=Special%3AWhatLinksHere&target=Template%3AHELP&namespace= Here you can see where help is needed.]. * [[Wiki contact|Tell me your ideas]] * [[Wiki contact|Do you want to help as an admin? Contact me]] * Donations via https://bitcoinstickers.nl/ |} ==== All pages ==== <strong>Please [[Editing the wiki|help]] by expanding this wiki</strong> {{Special:AllPages}} 0i6c1uywe6jvo8j0d6iqo30szh6vhfg