What is the Lightning Network?
▻https://hackernoon.com/what-is-the-lightning-network-496c4e636350?source=rss----3a8144eabfe3---
Bitcoin’s Lightning Network visualized according to the geolocation of nodes by ▻https://explorer.acinq.co.Bitcoin’s #blockchain suffers from a scalability problem.While Visa handles 2000 transactions per second on average, #bitcoin can only handle only 7 transactions per second with a block capacity of 1 MB.Bitcoin’s Lightning Network is an effort to tackle this scalability problem.A Layer on top of the Bitcoin BlockchainThe idea behind the Lightning Network is that smaller, everyday transactions need not be stored on the main Bitcoin blockchain.The Lightning Network is a second layer built on top of the main blockchain. It enables faster micro-transactions using ‘off-chain payment channels’. Using this off-chain approach, transactions deemed less important or peripheral are conducted off of (...)