38 views
in Cryptocurrency by (16.6k points)
What is the Lightning Network in Bitcoin?

Please log in or register to answer this question.

2 Answers

0 votes
by (16.6k points)
The Lightning Network is a second-layer payment protocol that operates on top of the Bitcoin blockchain. It enables faster and cheaper transactions by creating payment channels between users that allow them to transact off-chain, only settling the final state on the blockchain. This helps in reducing congestion on the main blockchain and increasing scalability and efficiency for Bitcoin transactions.
0 votes
by (7.8k points)
The Lightning Network is a second-layer scaling solution for Bitcoin that enables fast and cheap transactions by creating payment channels off-chain. It allows users to make multiple transactions without involving the main blockchain for every transaction, thus reducing congestion and fees on the Bitcoin network.
...