What Is the Bitcoin Lightning Network? How Does It Work?
lets discuss that in this thread !!
BTC LightningNetwork Bitcoin
Lightning is a decentralized network that uses smart contract functionality in the Bitcoin blockchain to facilitate instant payments across a network of users.
Imagine buying a cup of coffee with a direct transaction on the Bitcoin blockchain. After payment, the merchant would have to wait at least a few minutes to receive the funds. So in the lightning network the problem has solved.
Due to its decentralized nature, which requires consensus across a broad range of different computers, the Btc network can only process about 7 transactions per second on average. Compare this to 24k trxns
per second on average for a traditional credit card company like Visa.
The Lightning Network is designed to make bitcoin transactions as fast and cheap as possible. It’s part of a newer class of crypto technologies known as “layer 2” blockchains.
Thanks for reading and understanding with me. THANK YOU ..@MSDbitcoThis post is based on this twitter thread.