Transcription of The Bitcoin Lightning Network
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The Bitcoin Lightning Network
The Bitcoin Lightning Network DRAFT Version Poon Thaddeus Dryja The Bitcoin protocol[1] can encompass the global financial transaction volume in all electronic payment systems today, without a single custodial 3rd party holding funds or requiring participants to have any more than a computer on a home broadband connection. A decentralized system is proposed whereby transactions are sent over a Network of micropayment channels ( payment channels or transaction channels) whose transfer of value occurs off-blockchain.
The Bitcoin Lightning Network DRAFT Version 0.5 Joseph Poon <joseph@lightning.network>, Thaddeus Dryja <rx@awsomnet.org> Abstract. The bitcoin protocol[1] can encompass the global financial transaction volume
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