Glossary

Basis of Lightning Technology (BOLT)

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The Basis of Lightning Technology (BOLT) are specifications that describe the consensus rules and standards of the Lightning Network. The standards established by the BOLTs allow different Lightning implementations such as LND and c-lightning to integrate and form a network. As the Lightning Network continues to develop, the BOLTs are adapted and improved.

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The Lightning Network (LN) is a protocol enabling instant, cheap Bitcoin transactions. Still experimental, it shows great promise for scaling Bitcoin.
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A Lightning implementation is software capable of running a Lightning node and using the Lightning Network. Several different implementations exist.
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Consensus
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Open source describes a project whose source code is publicly available and licensed such that individuals can use and alter the source code freely.
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