Mastering the Lightning Network: A Second Layer Blockchain Protocol for Instant Bitcoin Payments

The Lightning Network (LN) is a second-layer payment protocol that enables near-instantaneous transactions between two parties on top of Bitcoin. This book provides a practical guide to understanding and utilizing LN, demonstrating its potential to increase Bitcoin's scalability, speed, and privacy while reducing fees. It is ideal for developers, systems architects, investors, and entrepreneurs seeking to learn more about this critical solution to Bitcoin's scalability problem.

Format: Paperback / softback
Length: 424 pages
Publication date: 30 November 2021
Publisher: O'Reilly Media, Inc, USA

The Lightning Network (LN) is a rapidly expanding second-layer payment protocol that operates on top of Bitcoin, enabling near-instantaneous transactions between two parties. In this comprehensive guide, authored by Andreas M. Antonopoulos, Olaoluwa Osuntokun, and Rene Pickhardt, the authors delve into the transformative potential of this advancement, enabling the next level of scale for Bitcoin. By increasing speed and privacy while reducing fees, the Lightning Network holds immense promise for developers, systems architects, investors, and entrepreneurs seeking to gain a deeper understanding of this critical solution to Bitcoin's scalability problem.

The book begins by examining how the Lightning Network addresses the challenge of blockchain scaling. It delves into the Basis of Lightning Technology (BOLT) standards documents, which provide the foundational framework for the Lightning Network Protocol Suite. The five layers of the Lightning Network Protocol Suite are explored in detail, encompassing wallets, nodes, and the operational aspects of a Lightning Network. The concept of Lightning payment channels, onion routing, and gossip protocol is introduced, providing a comprehensive understanding of the network's architecture.

Furthermore, the book guides readers in finding paths across payment channels to transport Bitcoin off-chain from the sender to the recipient. This off-chain routing mechanism enhances the scalability and speed of transactions, as it bypasses the limitations of the Bitcoin blockchain. By leveraging the Lightning Network, users can enjoy faster and more cost-effective transactions, while also enhancing the privacy and security of their financial activities.

In conclusion, The Lightning Network: A Practical Guide is an essential resource for anyone seeking to understand the potential of this groundbreaking payment protocol. With its clear and concise explanations, the book provides a comprehensive roadmap for developers, systems architects, investors, and entrepreneurs looking to leverage the Lightning Network to unlock the full potential of Bitcoin. As the adoption of LN continues to grow, it is clear that this innovative solution will play a pivotal role in shaping the future of digital finance.

Weight: 806g
Dimension: 178 x 234 x 29 (mm)
ISBN-13: 9781492054863