Cryptocurrency Q&A
Are lightning invoices based on bitcoin addresses?
Are lightning invoices based on bitcoin addresses?
Caterina
Thu Jul 18 2024
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7 answers
1796
Could you elaborate on whether lightning invoices are inherently tied to Bitcoin addresses? I've heard that the Lightning Network, as a second-layer solution to Bitcoin's scalability issues, introduces a new payment system. Does this mean that lightning invoices operate independently from traditional Bitcoin addresses, or are they still rooted in the core Bitcoin infrastructure? I'm curious to understand how these invoices work and if they rely on the same addressing system as the Bitcoin blockchain.
7 answers
Michele
Sat Jul 20 2024
Despite the utilization of Bech32 encoding, Lightning invoices stand distinct from traditional Bitcoin addresses, bearing no direct relation to them.
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CryptoLodestarGuard
Sat Jul 20 2024
It is noteworthy that non-address payments have found applications within the Bitcoin ecosystem, offering alternative payment mechanisms.
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SolitudeSerenade
Sat Jul 20 2024
One such example is BIP-70, a proposed standard that enables merchants to securely receive Bitcoin payments through a payment protocol.
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CryptoBaron
Fri Jul 19 2024
Bitpay, a popular payment processor, mandates the use of BIP-70 or similar protocols for secure transactions.
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ThunderBreezeHarmony
Fri Jul 19 2024
Additionally, the original Bitcoin software also supported IP transactions, which represented another method of non-address payments.
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