Lightning is a decentralized network that uses smart contract functionality in the Bitcoin blockchain to facilitate instant payments across a network of users. It’s considered an off-chain or layer-2 solution because it involves activity that doesn’t occur directly on the blockchain. Why Does Bitcoin Need Lightning?
What is Lightning Network?
Lightning Network is a second layer technology for bitcoin that uses micropayment channels to scale its blockchain’s capability to conduct transactions.
What is the difference between the main blockchain and the Lightning Network?
Lightning transactions are also less energy intensive than transactions on the main blockchain. While the main Bitcoin blockchain (layer 1) can typically handle fewer than 10 transactions per second, the Lightning Network (layer 2) can theoretically handle millions of transactions a second. How does the Lightning Network work?
What to know before investing in crypto?
On the list of things to know before investing in crypto, Lightning doesn’t even crack the top five. But it may be an interesting topic for those interested in the technical side of blockchain technology, and for those who want to use Bitcoin as a means of payment. What Is the Lightning Network?
