Invoice Protocol for Lightning Payments What is a BOLT? For different Lightning Network implementations like Core Lightning (formerly c-lightning), Eclair, LND, and others to interact seamlessly with each other, they need to agree on a specification. …

What is lightning? For Bitcoin to process transactions like other payment processors like MasterCard, Visa, and others, it needs to scale. Every transaction that occurs on the Bitcoin network needs to be relayed, mined, and confirmed, which serves as an impediment for the Bitcoin network to scale and compete with other payment processors…

What is Satoshi? Although the price of 1 Bitcoin today makes it appear unsuitable for smaller value payments, “1 Bitcoin” is really an artificial construct created for the convenience of the (early) user. …

What exactly is Bitcoin? Bitcoin is similar to a country’s physical cash used for transactions (buying and selling), how it differs is that rather than being physical it is digital, used on the internet. It’s a decentralized virtual currency in the sense that it is not issued by a central authority like a government…

Hierarchical Deterministic (HD) wallets are described as a wallet that generates a new key pair from a master key pair for every transaction to enhance privacy and security. This type of wallet was implemented as a Bitcoin standard with Bitcoin Improvement Proposals (BIP 32). Think of a Hierarchical Deterministic wallet…