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@ -439,7 +439,7 @@ This is a basic implementation of an HTLC. This type of HTLC can be redeemed by
[[lightning_network]]
=== Routed Payment Channels (Lightning Network)
The Lightning Network is a proposed routed network of bidirectional payment channels connected end-to-end. A network like this can allow any participant to route a payment from channel to channel without trusting any of the intermediaries. The Lightning Network was first described by Joseph Poon and Thadeus Dryja in February 2015, building on the concept of payment channels as proposed and elaborated upon by many others:
((("blockchain applications", "routed payment (Lightning Network)", id="BCAlightning12")))((("routed payment channels", see="Lightning Network")))((("Lightning Network", "defined")))The Lightning Network is a proposed routed network of bidirectional payment channels connected end-to-end. A network like this can allow any participant to route a payment from channel to channel without trusting any of the intermediaries. The Lightning Network was first described by Joseph Poon and Thadeus Dryja in February 2015, building on the concept of payment channels as proposed and elaborated upon by many others:
https://lightning.network/lightning-network-paper.pdf[https://lightning.network/lightning-network-paper.pdf]
@ -539,7 +539,7 @@ Capacity:: LN increases the capacity of the bitcoin system by several orders of
Trustless Operation:: LN uses bitcoin transactions between nodes that operate as peers without trusting each other. Thus, LN preserves the principles of the bitcoin system, while expanding its operating parameters significantly.
Of course, as mentioned previously, the Lightning Network protocol is not the only way to implement routed payment channels. Other proposed systems include Tumblebit and Teechan. At this time, however, the Lightning Network has already been deployed on testnet. Several different teams have developed competing implementations of LN and are working toward a common interoperability standard (called BOLT). It is likely that Lightning Network will be the first routed payment channel network to be deployed in production.
Of course, as mentioned previously, the Lightning Network protocol is not the only way to implement routed payment channels. Other proposed systems include Tumblebit and Teechan. At this time, however, the Lightning Network has already been deployed on testnet. Several different teams have developed competing implementations of LN and are working toward a common interoperability standard (called BOLT). It is likely that Lightning Network will be the first routed payment channel network to be deployed in production.((("", startref="BCAlightning12")))
=== Conclusion