RATE Group | Bitcoin Lightning network is a second layer network not a sidechain, Mastering Bitcoin a…
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Bitcoin Lightning network is a second layer network not a sidechain, Mastering Bitcoin a…

15 Dec Bitcoin Lightning network is a second layer network not a sidechain, Mastering Bitcoin a…

Posted at 13:58h in Bitcoin News by

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Andreas Antonopoulos, the author of Mastering Bitcoin and a well-known Bitcoin proponent spoke about whether the Lightning network is a sidechain or a second layer.

Antonopoulos started by speaking about the Lightning network, stating that is a second layer network and not a sidechain. He elucidated that the second-layer is mechanism for transmitting payments off-chain with the help of the underlying blockchain for security. He stated:

“It allows you to route through payment channels, which are smart contracts using multi-sig and time delays. It allows you to transfer [small amounts of] bitcoin… between two participants, without [needing] to record it on the blockchain [until settlement or there is a dispute].”

The author further added that there is no need for the two participants to trust anyone else. This is because Bitcoin’s underlying technology, blockchain, is the “basis of trust and security”. He continued to say that the Lightning network can also…

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