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
IEO
Initial Exchange Offering (IEO) is a spin-off of Initial Coin Offering (ICO), where the sale of tokens are conducted on an exchange rather than by the coin team themselves.
Option
It is a financial instruments that refers to a contract offers the buyer the right to buy or sell an underlying assets at a specified price and time.
Smart contracts
Self executing contracts on the blockchain without needing human executors or notary.
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.