Do you have to wait for a block confirmation just to buy a cup of coffee? That’s exactly what the Lightning Network aims to solve.
Two users first lock Bitcoin into a jointly controlled 2-of-2 multisig address with an on-chain transaction, opening a payment channel.
Running your own Lightning node means staying online, or you can use a watchtower service to prevent the other party from settling the channel with an outdated state while you’re offline.
What circulates on the Lightning Network is still $BTC ; it’s just that most payments don’t need to be recorded on-chain individually.
Had you heard about this before?
Two users first lock Bitcoin into a jointly controlled 2-of-2 multisig address with an on-chain transaction, opening a payment channel.
Running your own Lightning node means staying online, or you can use a watchtower service to prevent the other party from settling the channel with an outdated state while you’re offline.
What circulates on the Lightning Network is still $BTC ; it’s just that most payments don’t need to be recorded on-chain individually.
Had you heard about this before?
