Author: Andy Schroder 2015-06-29 01:45:09
Published on: 2015-06-29T01:45:09+00:00
The Lightning Network is a whitepaper that proposes a way to scale Bitcoin algorithmically rather than increasing the block size. It is a source routed network, with fees charged on channels and is not a broadcast network. The lightning network requires a decentralized and secure Bitcoin network for anchor and reclaim transactions. The paper can be found at lightning.network, and Rusty has written a high-level blog explainer on it. Lightning does not need to convince people, it just has to be coded and demonstrated, which people are working on. The Lightning Network paper itself says bigger blocks will be needed even if (especially if!) Lightning is wildly successful.
Updated on: 2023-06-10T01:24:36.967543+00:00