Great explanation of how Lightning works.

#[0]

I fail to see how this isn't a network 🤔

I don't get it why you think the word "network" is a false premise. There are many networks out there, which are just graphs of relations between nodes, this is in fact a possible definition of the word "network". Do you propose not to use the word "Lightning Network"? How does it help?

Correct. IMO it could be called the Lightning Internet because the topology reflects that of the Internet. Each node can function like a router, and some organizations have multiple connected routers. It is more granular to describe it as above, “many payment channels between distinct peers,” but that description is not entirely accurate, again IMO, unless you substitute ‘hosts’ for ‘peers.’

Is “LN doesn’t exist” the new “there is no mempool”?

You could argue that it's more properly a Lightning Internetwork … a network of networks.

That is exactly the discussion we had about the Internet about thirty years ago. It's a network of loosely coupled networks sharing the same protocols.

The Lightning (inter)Network has a gossip protocol and support for finding payment paths along multiple hops of these liquidity channels. It will be interesting to see how the routing infrastructure grows and has to be adapted to handle that growth.

There is nothing in Lightning that's akin to IP address blocks and route aggregation, as far as I know. Some sort of paid route advertising services will probably emerge to keep incentives aligned to user interests.

Perhaps consumers, in significant numbers, are ready embrace the wisdom that "free" (advertiser sponsored and marketing data driven) services are more costly than sats for well defined service offerings.

What about the connection between lightning labs and wef?

This sounds like saying "There is no cloud, just someone else's computer". Or more on point for you, there isn't "a Mempool". Put more precisely there isn't a singular Lightning Network but many peer to peer networks. It is a network though or set of networks. Better yet, a type of network.

Is this a distinction that is helpful? I'm not sure saying it isn't a network is helpful in understanding it. I think we are on the same page but maybe explaining it differently.

I'm not an expert on Lightning so if I'm missing something I welcome feedback on this commentary.

As someone who knows quite a bit about IP networks, I get the point you’re making. While correct, it’s kinda just not reasonable to expect non-tech people it get it or even really care. Lighting inter-network just doesn’t work verbally. I wouldn’t even bother to say it.

network

noun [ C ]

“a large system consisting of many similar parts that are connected together to allow movement or communication between or along the parts, or between the parts and a control centre”

Looks like a network by definition to me 💁🏻‍♂️

A great explanation of the Lightning payment Protocol.

Is my understanding correct #[1] that this is a Layer 2 Bitcoin protocol?

#[0]

Yup

#[0]