Lightning Network News

Lightning Network is a scaling solution that aims to allow Bitcoin to be used as a day-to-day currency using ‘channels’ between the recipient and the spender. The spender pre-loads their account in preparation to conduct some transactions. These individual transactions are carried out off-chain and are bundled up into one single transaction that the retailer can execute whenever they wish, which then occurs on-chain and debits the spender’s account. This way the purchases are instant and the Bitcoin chain is not blocked by numerous microtransactions. Lightning Network adoption has been growing in recent years, with the transaction time now comparable with fiat transactions.