5.5 How do Bitcoin Lightning Network payments work? || Chris Stewart & Nadav Kohen

Nadav Kohen [@Nadav_Kohen] explains how Bitcoin Lightning Network transactions work. If the payment is inside only one payment channel, then there are just regular signatures, and no hashed time locked contracts. But if the payment is routed through the Lightning Network, it uses contingent payments with HTLCs. The routing node only gets paid, if he commits to paying the next node in the route.