1
Lightning Network is a Layer-2 protocol built on the base layer of Bitcoin.
2
It is used for instant and high-volume micropayment transactions.
Lightning Network makes transfers at lightning speed. It makes transactions faster than ever. Since it is a Layer-2 protocol it instantly gives results. It is built on the base layer of Bitcoin i.e. Layer-1 so it utilizes security and high protection standards.
It is an open-source project developed by Tadge Drujja in 2015. It is made to reduce high-fee transactions on Bitcoins. In 2016, a whitepaper was published and the project started gaining lots of attention. Lightning Labs is the company behind Lightning Network. The company has released the beta version of this network to test and highlight the value of Layer-2 solutions.
Bitcoin is a slow payment system and all its transactions are finalized in over an hour. The reason behind its slow speed is that Bitcoin assembles the transactions into blocks spaced a
We współpracy z: https://www.thecoinrepublic.com/2023/08/13/lightning-network-why-it-is-important-for-micropayments/
