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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Related Terms
Lightning Network
The Lightning Network (LN) is a protocol designed to allow instant and cheap Bitcoin transactions. While it is still experimental, it shows great promise for Bitcoin’s ability to scale.
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Lightning Implementations
A Lightning implementation is a software program capable of operating a Lightning Node and engaging with the Lightning Network. There are several different implementations of Lightning.
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Consensus
Consensus is the ideal and the method of coordination between individuals in a decentralized system. Consensus is achieved at the development level with regards to changes to the Bitcoin protocol, and it is also achieved with regards to agreement on the state of the blockchain.
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Open Source
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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