# The Bitcoin Lightning Network - Host: [lightning.network](https://links.thingelstad.xyz/hosts/lightning.network/) - Saved: June 15, 2015 (2015-06-15T19:18:06Z) - Record: https://links.thingelstad.xyz/links/80a6a2182fe0/ - JSON: https://links.thingelstad.xyz/links/80a6a2182fe0.json ## From the page (probably an excerpt, not Jamie's words) The bitcoin protocol can encompass the global financial transaction volume in all electronic payment systems today, without a single custodial 3rd party holding funds or requiring participants to have any more than a computer on a home broadband connection. A decentralized system is proposed whereby transactions are sent over a network of micropayment channels (a.k.a. payment channels or transaction channels) whose transfer of value occurs off-blockchain. If Bitcoin transactions can be signed with a new sighash type which addresses malleability, these transfers may occur between untrusted parties along the transfer route by contracts which are enforceable via broadcast over the bitcoin blockchain in the event of uncooperative or hostile participants, through a series of decrementing timelocks. ## Facts - Kind: [Page](https://links.thingelstad.xyz/kinds/page/) ## Mentioned by - [strike.army | Strike + LNURL = <3](https://links.thingelstad.xyz/links/2e2ebeab6d16/) (strike.army, May 11, 2023) ## Saved the same week - [Large companies: SPS Commerce plays the fun factor - StarTribune.com](https://links.thingelstad.xyz/links/56c6f251fe68/) (startribune.com, June 15, 2015) - [Diceware Passphrase Home](https://links.thingelstad.xyz/links/6aa4daba8fad/) (world.std.com, June 15, 2015) - [60 Small Ways to Improve Your Life in the Next 100 Days](https://links.thingelstad.xyz/links/9140ed66ad50/) (lifehack.org, June 15, 2015) - [Let's Encrypt Launch Schedule](https://links.thingelstad.xyz/links/db809e10d4ff/) (letsencrypt.org, June 16, 2015) - [Exception Monitoring and Response - GitHub Engineering](https://links.thingelstad.xyz/links/ba3fd85ff5f7/) (githubengineering.com, June 17, 2015) ## Elsewhere - Wayback Machine: https://web.archive.org/web/*/http://lightning.network/