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Umar Bolatov 4 years ago
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[[intro_what_is_the_lightning_network]]
== Introduction
Welcome to Mastering the Lightning Network or "LN" as we'll call it throughout the book!
Welcome to Mastering the Lightning Network or "LN" as we'll call it throughout the book!
The LN is a protocol for using Bitcoin in a smart and non obvious way.
Thus it is a second layer technology on top of Bitcoin.
It is changing the way people exchange value online and it's one of the most exciting advancements to happen to the Bitcoin network over the past few years. Right now, LN is in its infancy. In concept it's about 5 years old, in implementation about 3 years old. We're only beginning to see the opportunities LN provides including improved privacy, speed, and scale. With core knowledge of LN, you can help shape the future of the network while building opportunities for yourself as well. Some basic knowledge about Bitcoin is assumed but can be readily acquired by reading the first two chapters of _Mastering Bitcoin_ which are available for free online.

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Every other component of a lightning wallet brings similar considerations of trust. If all the components are under the control of the user, then the amount of trust in third parties is minimized, bringing maximum power to the user. Of course, this is a direct trade-off, as with that power comes the responsibility to manage complex software.
Every user must consider their own technical skills before deciding what type of lightning wallet to use. Those with strong technical skills should use a lightning wallet that puts all of the components under the direct control of the user. Those with less technical skill but a desire to control their funds, should choose a _non-custodial_ lightning wallet, even if some of the components (other than the keystore) rely on some trusted third parties.
Often the trust in those cases relates to privacy.
If users decide to outsource some functionality to a third party they usually give up some privacy as the third party will learn some information.
Every user must consider their own technical skills before deciding what type of lightning wallet to use. Those with strong technical skills should use a lightning wallet that puts all of the components under the direct control of the user. Those with less technical skill but a desire to control their funds, should choose a _non-custodial_ lightning wallet, even if some of the components (other than the keystore) rely on some trusted third parties.
Ofter the trust in those cases relates to privacy.
If users decides to outsource some functionality to a thrid party they usually give up some privacy as the third party will learn some information.
Finally, those seeking simplicity and convenience, even at the expense of control and security, may choose a custodial lightning wallet. This is the least challenging option, but it _undermines the trust model of cryptocurrency_ and should, therefore, be considered only as a stepping stone towards more control and self-reliance.

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