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..

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Related Terms

Block Explorer

Application or websites which display information such as status of transactions or data contained in a block of a given public blockchain network.

Proof-of-Burn (PoB)

A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.

Soft cap

Targeted fund raising limit of an ICO

Permissioned Blockchain

It is a private blockchain where the nodes must be previously authorized by a central entity.

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