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Lightning Network

By: WEEX|2024/10/26 08:59:12

The Lightning Network is a Layer-2 scaling solution for the Bitcoin blockchain designed to facilitate faster and cheaper transactions by processing them off-chain. The network enables peer-to-peer micropayments through payment channels, which can be settled on the main Bitcoin blockchain only when necessary. The Lightning Network significantly reduces congestion on the Bitcoin network and lowers transaction fees, making Bitcoin more practical for everyday use. It also enables instant payments, which is especially useful for small or time-sensitive transactions. However, it is still in development, and its adoption is not yet widespread.