PEER-TO-PEER (P2P) NETWORK ~ A decentralized network with no middlemen

Full nodes (peers) collaboratively maintain a peer-to-peer network for transaction and block validation and verification.

In this type of network, each node can both provide data and request data from other nodes.

There is no central authority in a P2P network.

LIGHTNING NETWORK ~ A network built on top of Bitcoin that allows for fast and almost free transactions

The Lightning Network is a Layer 2 scaling solution. This means that it provides a way to scale Bitcoin's transaction capacity, allowing for millions of transactions per second (TPS).

WALLET ~ A wallet is used to access your Bitcoins

It can be on a mobile device, a computer, or a small hardware device.

A Bitcoin wallet can be considered a more secure way to sign transactions, as it ensures that your Bitcoins will never be lost or stolen.

When you want to send or spend your Bitcoins, the wallet will sign the transaction and broadcast it to the network, allowing it to be validated and added to the blockchain as a block.

DEVELOPERS ~ Computer programmers

Developers are responsible for maintaining the network, ensuring its security, and controlling bugs and new features.