🚀 Let's Explore Lightning Nodes! (1/8) ⚡
1/ The Lightning Network is a game-changer for Bitcoin. But what powers it? Software applications speaking the LN protocol. Let's dive into Lightning nodes, the backbone of this innovation.
2/ Lightning nodes are versatile. They're wallets, facilitating payments over both the Lightning and Bitcoin Network. They communicate peer-to-peer with other nodes, forming the network. Plus, they need access to the Bitcoin blockchain for securing funds.
3/ To maximize control, users can run their own Bitcoin and Lightning nodes. But here's the cool part: Lightning nodes can also use SPV to interact with the Bitcoin blockchain, offering a lighter approach.
4/ The Lightning Network isn't a product or company, it's a set of open standards for interoperability. Various companies and community groups have built open-source Lightning node software (LND, c-lightning, Eclair, etc) enabling collaboration and community-driven development. 🔧🤝
5/ Unlike Bitcoin, where the standard is defined by a reference implementation in software (Bitcoin Core), in Lightning the standard is defined by a series of standards documents called Basis of Lightning Technology (BOLT). 📜
6/ No single reference implementation for the Lightning Network exists, but there are competing BOLT-compliant implementations from different teams and organizations. These teams not only build software but also contribute to BOLT standard development. 💼
7/ Lightning node software differs from Bitcoin's. It doesn't need to follow consensus rules and can experiment with extended functionality beyond the BOLT baseline. This flexibility allows for innovation and could shape future BOLTs. 💡
8/ Excited to make your own Bitcoin Lightning Node using LDK? Click below to start the adventure!
https://medium.com/@aaa.software.dev/how-to-develop-a-non-custodial-bitcoin-lightning-wallet-using-flutter-and-ldk-7396310f37b6
#bitcoin #lightningnetwork
Let's Make Bitcoin Lightning-Fast! ⚡
🚀 Hang tight because we're diving into the exciting world of the Lightning Network!
🌐 Have you ever wondered how to make Bitcoin transactions faster, more scalable, and more private? Well, that's where the Lightning Network comes in.
⏳ Back in 2015, two brilliant minds, Joseph Poon and Thaddeus Dryja, introduced the Lightning Network to tackle Bitcoin's scaling issue.
💨💰 Think of the Lightning Network as a second-layer technology. It helps handle transactions off the main Bitcoin blockchain, making them quicker and more cost-effective. It's like the Flash of microtransactions!
⚡💸 Now, here's the cool part: Users put their Bitcoins on the Lightning Network and only interact with the main Bitcoin blockchain when they open or close payment channels. The result? Lightning-fast payments that don't wait for confirmations!
😎 But there's more! The Lightning Network has some awesome features. And remember, the Lightning Network isn't a separate coin or token; it's built on top of Bitcoin.
🔥 Are you curious to learn more about this exciting world? Want to discover how to build your very own Non-Custodial Bitcoin Lightning wallet? Join me on this journey!
https://dev.to/anipy/tutorial-how-to-develop-a-non-custodial-bitcoin-lightning-wallet-using-flutter-and-ldk-13ik
#Bitcoin #LightningNetwork
Hello! I'm glad you've found my posts helpful. Regarding your question, the Lightning Network primarily focuses on making fast and cost-effective microtransactions while enhancing Bitcoin's scalability. Smart contracts are not a primary feature of it. But it's possible, like the fairness protocol used for routing in LN which is HTLC is a type of smart contract written using Bitcoin script to secure payments. But your channel peer also needs to be capable of understanding that contract.
Well, there have been discussions and experiments related to adding certain smart contract functionalities to the Lightning Network. This would mainly enable more complex operations beyond simple payment channels.
🚀 Just published my tutorial article on "How to develop a Non-Custodial Bitcoin Lightning Wallet using Flutter and LDK."
Learn about Lightning Networks, Nodes, and Wallets, opening and closing Payment Channels, creating and paying BOLT11 Invoices, creating Zero-Sat Invoices, Channel State Backups, and overcoming challenges with Incoming Channel Opening Requests.
Check it out: https://bolt.fun/story/tutorial-how-to-develop-a-non-custodial-bitcoin-lightning-wallet-using-flutter-and-ldk--1153
📢 Excited to share my latest project - 'Bijli,' a non-custodial Bitcoin Lightning Wallet ⚡️built with Flutter & Lightning Development Kit (LDK)! I've been working on this app during weekends for months, and I'm thrilled to show you a quick demo.
Check it out on GitHub: https://github.com/aniketambore/bijli_ln_wallet
#Bitcoin #LightningNetwork #Flutter #OpenSource
The main difference is that Bit-Chat is developed using BDK and primarily supports Bitcoin on-chain payments. On the other hand, Bijli is developed using LDK and offers a broader range of features, including the ability to pay Bolt11 invoices, create Bolt11 invoices, open payment channels, pay zero-sat invoices, on-chain payments as well, and more.
That's why it's a non-custodial Bitcoin and Lightning wallet ⚡
Hi Johns👋 Thanks a lot for your kind words. I really appreciate your support. I'm thinking of making it available on F-Droid once all essential features are fully developed and ready. Stay tuned 🙏
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