Dissecting HTLC Use for Lightning Network and its Limitations

Major Characteristic #1

The Lightning Network utilizes HTLCs (hash time locked contracts), which prevent users from being able to obtain their funds at their sole discretion (outside of the parameters and restrictions of the HTLC).

 

In the passage cited

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How Does the Lightning Network Work

 

If you’re looking for a literal definition of what the Lightning Network is, then the following should suffice: 

The Lightning Network is just a protocol that enables the passage of bitcoins “off-chain” via the execution of smart contracts in

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Segregated Witness [SegWit] Explained

Image result for Segregated Witness
Picture Cred: SegWit themselves

I figured that I would start releasing a series of articles that I expound upon blockchain technology for all my followers/readers out there that are trying to become more educated about the technical side of fundamental Read more