Lightning Network
By CoinGecko | Updated on Mar 03, 2020
It is the "second layer" or an off-chain of payment protocol that operates on top of a blockchain. It works on a peer-to-peer platform. The layer depends on bidirectional payment channels that do not need block confirmation and the payment will be instant..
Related Terms
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
Non-Fungible Tokens (NFT)
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
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