Building for the future
The Portsmouth Bitcoin Foundry

The Lightning Network

Bitcoins 2nd layer solution for instant, near free, settlement of transations.

How does it work?

Here's a quick explainer video, or scroll down for more info

What is it?

The Lightning Network went from concept in 2013/14 to active network in 2017. In true Bitcoin style, the network launched before the developers officially launched it themselves. BitRefill set themselves up a node and offered to open channels and sell gift cards in a bold and daring move.

The Bitcoin community pounced on the opportunity and the Lightning Network grew, rapidly, as nodes were installed and channels opened between network participants.

Still under active development, with a number of interoperable implementions, the network has continued to grow and expand and a new class of apps have now been built on top of it, taking advantage of the near instant low fee transactions the network rules allow.


The Lightning Network is a peer to peer network of bitcoin nodes with ongoing agreements over the custody of bitcoin held in multisig wallets.

Storage:

Unlike the mainchain, Lightning requires constant access. You can open channels on your own node, a mobile, or via web based providers.

Desktop

For your PC or Laptop

View

Blockstream Logo
Lightning Core

This is the blockstream implementation of the Lightning Network protocol

View

Electrum Logo
Electrum

Electrum created and launched a Python based Lightning client in 2020, integrated with their wallet software.

View

Lightning Labs Logo
LND

LND is the name of an implementation developed by Lightning Labs, designed to facilitate on-top application development.


Mobile

Mobile wallets are great for Lightning, but do come with a trade off - they're less secure.

View

breez logo
Breez

Breez have created an incredibly useful Lightning wallet with apps built in which make Bitcoin instantly and immediately useful, straight from your mobile.

View

Wallet of Satoshi Logo
Wallet of Satoshi

Wallet of Satoshi is quite literally one of the simplest ways to get started using Lightning. However...it is CUSTODIAL. Be aware of the implications of this.

Download

Eclair Logo
Eclair

Eclair by Acinq,(also available for desktop) is a solid implementation and one of the best mobile lightning wallets, though better suited to more advanced users.


Contact:

If you've got a question, why not get in touch?

Email:

MattB@portsmouthbitcoinfoundry.co.uk