@ -28,7 +28,7 @@ Node:: A computer that participates in a network. A LN node is a computer that p
Blockchain:: A distributed transaction ledger, produced by a network of computers. Bitcoin, for example, is a system that produces a blockchain. The Lightning Network is not itself a blockchain, nor does it produce a blockchain, it is a network that relies on existing blockchains for its security.
Transaction:: A data structure that records the transfer of control over some funds (eg. some bitcoin). The Lightning Network relies on Bitcoin transactions (or those of another blockchain), to track control of funds.
Transaction:: A data structure that records the transfer of control over some funds (e.g. some bitcoin). The Lightning Network relies on Bitcoin transactions (or those of another blockchain), to track control of funds.
Payment Channel:: a payment channel is a _financial relationship_ between two nodes on the Lightning Network, typically implemented by multi-signature Bitcoin transactions that share control over bitcoin between the two LN nodes.
@ -155,7 +155,7 @@ Alice now has an LN wallet. But, it's empty! She now faces one of the more chall
There are several ways Alice can acquire bitcoin:
* She can exchange some of her national currency (eg. USD) at a crypto-currency exchange
* She can exchange some of her national currency (e.g. USD) at a crypto-currency exchange
* She can buy some from a friend, or an acquaintance from a Bitcoin Meetup, in exchange for cash
* She can find a _Bitcoin ATM_ in her area, which acts as a vending machine, selling bitcoin for cash
* She can offer her skills or a product she sells and accept payment in bitcoin
@ -222,7 +222,7 @@ Let's review the definition of a "Lightning Network Channel" at this point, to m
The wallet or _node_ that Alice opens a channel to, is called her _channel peer_. Once "opened", a channel can be used to send many payments back and forth between Alice's wallet and her channel peer.
Furthermore, Alice's channel peer can _forward_ payments via other channels further into the Lightning Network. This way, Alice can _route_ a payment to any wallet (eg. Bob's LN wallet) as long as Alice's wallet can find a _path_ made by hoping from channel to channel, all the way to Bob's wallet.
Furthermore, Alice's channel peer can _forward_ payments via other channels further into the Lightning Network. This way, Alice can _route_ a payment to any wallet (e.g. Bob's LN wallet) as long as Alice's wallet can find a _path_ made by hoping from channel to channel, all the way to Bob's wallet.
All this to say: Alice needs one or more channels that connect her to one or more other nodes on the Lightning Network. She doesn't need a channel to connect her wallet directly to Bob's Cafe in order to send Bob a payment, though she can choose to open a direct channel too. Any well-connected node in the Lightning Network can be used for Alice's first channel. In this example, since we want to also demonstrate payment routing, we won't have Alice open a channel directly to Bob's wallet. Instead we will have Alice open a channel to a well-connected node and then later use that node to forward her payment, routing it through any other nodes, as necessary to reach Bob.
@ -50,9 +50,9 @@ Adjust heading style in each section as follows:
1. Only the chapter/section should be level 2, everything else should be level 3 and below (level 1 is the book title itself). Each asciidoc file should start with a "==" heading.
2. Headings should be all lower case, except for first letter, proper nouns and acronyms. "An introduction to the Lightning Network", "Explaining the physics of fulgurites" etc.
3. Acronyms are spelled out, capitalized, with the acronym in parentheses (eg. "Hash Time-Locked Contract (HTLC)"). Once you have spelled out an acronym in one heading, we can keep it as an acronym only in subsequent headings.
3. Acronyms are spelled out, capitalized, with the acronym in parentheses (e.g. "Hash Time-Locked Contract (HTLC)"). Once you have spelled out an acronym in one heading, we can keep it as an acronym only in subsequent headings.
4. No period at the end of headings. Question mark if it is a question (generally avoid question headings, unless really appropriate)
5. Should include a unique anchor all lower case, underscore separated, within double square brackets (eg. [[intro_to_htlcs]]).
5. Should include a unique anchor all lower case, underscore separated, within double square brackets (e.g. [[intro_to_htlcs]]).
6. Headings should be followed by a blank line.
7. Heading should be followed by a paragraph of text, not a lower-level heading without any text. If you find one like this, add a TODO comment (line of 4 slashes "////", line with "TODO: add paragraph", line of 4 slashes)
8. Often it seems useful to link to a webpage / url. Since the research community figured out that every year about 50% of all outstanding url's become invalid we encourage you to use the wayback machine / Web Archive at: http://web.archive.org and provide a link to a saved copy of the web page.
vv01f
4 years ago