@ -138,14 +138,14 @@ Furthermore, most legacy financial systems wouldn't even allow a nine-year old l
By using a global currency such as bitcoin, John was able to sell his artwork to customers all over the world, store the money he's earned without a bank account and, in the end, buy the games console he so desperately wanted.
gamer::
Gloria is a teenage gamer from the Philippines. She plays many different computer games, but her favorite ones are those that have an "in-game economy" based on real money. As she plays games, she also earns money by acquiring and selling virtual in-game items. The Lightning Network allows her to transact in small amounts for in-game items as well as earn small amounts for completing quests.
Dina is a teenage gamer from Russia. She plays many different computer games, but her favorite ones are those that have an "in-game economy" based on real money. As she plays games, she also earns money by acquiring and selling virtual in-game items. The Lightning Network allows her to transact in small amounts for in-game items as well as earn small amounts for completing quests.
migrant::
Farel is an immigrant who works in the Middle East and sends money home to his family in Indonesia. Remittance companies and banks charge high fees, and Farel prefers to send smaller amounts more often. Using the Lightning Network, Farel can send bitcoin as often as he wants, with negligible fees.
software service business::
Wei is an entrepreneur who sells information services related to the Lightning Network, as well as Bitcoin and other cryptocurrencies. Wei is selling these information services over the Internet by implementing micro-payments over the Lightning Network. Additionally, Wei has implemented a liquidity provider service that rents inbound channel capacity on the Lightning Network, charging a small bitcoin fee for each rental period.
Chan is a Chinese entrepreneur who sells information services related to the Lightning Network, as well as Bitcoin and other cryptocurrencies. Chan is selling these information services over the Internet by implementing micro-payments over the Lightning Network. Additionally, Chan has implemented a liquidity provider service that rents inbound channel capacity on the Lightning Network, charging a small bitcoin fee for each rental period.
=== Chapter Summary
In this chapter, we looked at the history of the Lightning Network and the motivations behind second layer scaling solutions for Bitcoin and other blockchain based networks. We learned basic terminology including node, payment channel, on-chain transactions, and off-chain payments. Finally, we met Alice, Bob, Saanvi, John, Gloria, Farel, and Wei who we'll be following throughout the rest of the book. In the next chapter, we'll meet Alice and walk through her thought process as she selects a Lightning wallet and prepares to make her first Lightning payment to buy a cup of coffee from Bob's Cafe.
In this chapter, we looked at the history of the Lightning Network and the motivations behind second layer scaling solutions for Bitcoin and other blockchain based networks. We learned basic terminology including node, payment channel, on-chain transactions, and off-chain payments. Finally, we met Alice, Bob, Saanvi, John, Dina, Farel, and Chan who we'll be following throughout the rest of the book. In the next chapter, we'll meet Alice and walk through her thought process as she selects a Lightning wallet and prepares to make her first Lightning payment to buy a cup of coffee from Bob's Cafe.
Andreas M. Antonopoulos
3 years ago