Knowledge Notes | Lightning Network
① Two users open a payment channel by locking bitcoin in an on-chain transaction to a 2-of-2 multisig address jointly controlled by both parties.
② The Lightning Network is an off-chain payment network built on Bitcoin. Its white paper was published by Joseph Poon and Thaddeus Dryja in 2015.
③ When depositing bitcoin to an exchange, make sure you choose whether to use the on-chain network or the Lightning Network. They use different receiving formats, so don’t mix them up.
$BTC 75918.55 (+0.38%)
#BTC
These are just my personal opinions and should not be used as a basis for buying or selling.
① Two users open a payment channel by locking bitcoin in an on-chain transaction to a 2-of-2 multisig address jointly controlled by both parties.
② The Lightning Network is an off-chain payment network built on Bitcoin. Its white paper was published by Joseph Poon and Thaddeus Dryja in 2015.
③ When depositing bitcoin to an exchange, make sure you choose whether to use the on-chain network or the Lightning Network. They use different receiving formats, so don’t mix them up.
$BTC 75918.55 (+0.38%)
#BTC
These are just my personal opinions and should not be used as a basis for buying or selling.
