
Despite the fact cryptocurrencies have giant amount of benefits compare with fiat money (i.e. anonymity and full financial freedom). They can't be used in daily life and no one has even thought of that until the idea of lightning network came up.
So what is it?
Lightning network is a technical solution creating a protocol for the second layer of blockchain networks. Working on the Bitcoin LN can use smart contracts to make faster transactions saving the old basic principles of peer-to-peer (what means that there are no mediators between someone who pays and someone who gets the money).
This solution was first suggested during the Scaling Bitcoin conference in 2015.
That is all I've managed to find for five minute search on the internet, I feel however, that there are much more about Lightning Networks and I would really appreciate your help at expending our common knowledge.
So what is it?
Lightning network is a technical solution creating a protocol for the second layer of blockchain networks. Working on the Bitcoin LN can use smart contracts to make faster transactions saving the old basic principles of peer-to-peer (what means that there are no mediators between someone who pays and someone who gets the money).
This solution was first suggested during the Scaling Bitcoin conference in 2015.
That is all I've managed to find for five minute search on the internet, I feel however, that there are much more about Lightning Networks and I would really appreciate your help at expending our common knowledge.
Last edited by a moderator: