Crypto trivia 📚 Lightning Network
Once a channel is open, payments between the two parties are just exchanges of the latest signed balance records. There’s no need to put every transaction on-chain, so payments are essentially instant.
The two users first lock Bitcoin into a jointly controlled 2-of-2 multisig address with an on-chain transaction, opening a payment channel.
Knowledge won’t make me rich overnight, but it can help me avoid a few pitfalls.
$BTC still circulates on the Lightning Network; it’s just that most payments don’t need to be recorded on-chain individually. Current price: 75918.55.
#BTC
Once a channel is open, payments between the two parties are just exchanges of the latest signed balance records. There’s no need to put every transaction on-chain, so payments are essentially instant.
The two users first lock Bitcoin into a jointly controlled 2-of-2 multisig address with an on-chain transaction, opening a payment channel.
Knowledge won’t make me rich overnight, but it can help me avoid a few pitfalls.
$BTC still circulates on the Lightning Network; it’s just that most payments don’t need to be recorded on-chain individually. Current price: 75918.55.
#BTC