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Bitcoin Lightning Network
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Author Topic: Bitcoin Lightning Network  (Read 2054 times)

MrCluster87

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Bitcoin Lightning Network
« on: January 16, 2017, 03:26:02 pm »

Could some developer try to brake down in simple terms what are they trying to do?

http://lightning.community/release/software/lnd/lightning/2017/01/10/lightning-network-daemon-alpha-release/

box1413

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Re: Bitcoin Lightning Network
« Reply #1 on: January 16, 2017, 03:51:10 pm »

i'm stilling figuring out this aswell, it seems that they are using a multi-signature address as a way to do instant bitcoin transfers off chain somehow. thats how lightning network works i think. put yes, would be great if someone that really understood it explain a bit further.
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VanBreuk

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Re: Bitcoin Lightning Network
« Reply #2 on: January 16, 2017, 04:02:10 pm »

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MrCluster87

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Re: Bitcoin Lightning Network
« Reply #3 on: January 17, 2017, 08:31:28 am »

Powered by Blockchain Smart Contracts

By using real Bitcoin/blockchain transactions and using its native smart-contract scripting language, it is possible to create a secure network of participants which are able to transact at high volume and high speed.

I didn't know that bitcoin have this functionality...

Damelon

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Re: Bitcoin Lightning Network
« Reply #4 on: January 17, 2017, 12:34:33 pm »

Powered by Blockchain Smart Contracts

By using real Bitcoin/blockchain transactions and using its native smart-contract scripting language, it is possible to create a secure network of participants which are able to transact at high volume and high speed.

I didn't know that bitcoin have this functionality...

Many people don't seem to know this, yet it's a basic function of Bitcoin: http://chimera.labs.oreilly.com/books/1234000001802/ch05.html#tx_script

All Bitcoin transactions are written in a script language that is non-Turing Complete by design.
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MrCluster87

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Re: Bitcoin Lightning Network
« Reply #5 on: January 22, 2017, 07:54:44 am »

Thanks Andreas Antonopoulos: https://youtu.be/gF_ZQ_eijPs
 

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