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246 sats \ 3 replies \ @aljaz 9 Jan \ on: How to create a private Lightning Network bitcoin_beginners
I think "private" LN might even be a wrong name here. Lightning network doesn't really exist. Its just bitcoin nodes with contracts on chain (channels).
What makes it "private" in this case is just the fact that the contracts are in a closed loop, but I'd argue that this is where lightning will strive towards when liquidity deployment starts reflecting economic activity. Lets say the nodes in a village will be hyper connected between themselves or have one big bank in between, and that bank will have connectivity to the world. Aka how internet works :)
Point being that there is no such thing as private network, it is just an isolated cluster of nodes that still uses the same chain (bitcoin mainet) for its operation, it just went as far to not only express their economic activity through routing over the cheapest/shortest paths in their circular economy but to actually contractually ensure noone will be able to deal with the outside world if they wanted to
Yes indeed. I said "private" to give the reader an image somehow that is separated from the well known "public".
Literally a mesh network with local nodes.
I've seen many noobs saying that in order to use BTC over LN they have to be connected to a well known node. That is false. You can still transact over LN with just 2 nodes. But yes, only between them.
Lets say the nodes in a village will be hyper connected between themselves or have one big bank in between, and that bank will have connectivity to the world
Exactly that scenario I described in this guide.
