Non-Technical: Lightning Network Explained
Channel: aantonop
Date: 2020-07-30

For the non-technical, what is the Lightning Network? How does it function? In this video Andreas walks through what's happening on the Lightning Network, all in a non-technical fashion. From funding transactions, to channels, routing, fees, security and trustlessness, this clip will give you a good overview of what's happening!

00:00 The Lightning Network is not a sidechian, it's an overlay network. 
00:50 Lightning payments are Bitcoin payments.
01:49 The blockchain features necessary for Lightning, multi-sig and timelocks.
02:35 How the Lightning Network is setup. Funding transactions.
03:50 What is a payment channel?
04:42 Lightning local and remote balances.
05:31 Offchain transactions
08:43 Routing payments on the Lightning Network
10:30 Lightning is a trustless, non-custodial network
11:13 Lightning routing fees
11:42 Lightning Network overview summary

This question is from the bonus livestream on Lightning, which took place on April 18th, 2020. If you want early-access to talks and a chance to ask questions in the monthly live Q&As with Andreas, become a Community Builder on Patreon: https://www.patreon.com/aantonop

Related Videos: 
Bitcoin Q&A: Can Bitcoin Get Stuck & Lost in a Lightning Channel? - https://youtu.be/ofUnuose2r8
Bitcoin Q&A: Why Does Bitcoin Need a Second Layer? - https://youtu.be/fYv0qvPOX2U

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Music: "Unbounded" by Orfan (https://twitter.com/grassfedbitcoin)

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