Bitcoin Lightning Network

What is Bitcoin Lightning Network?
The Bitcoin Lightning Network is a cryptocurrency protocol that uses blockchain ledger technology. It was created by Joseph Poon and Thaddeus Dryjain in 2017 and is now used to manage cryptocurrencies like Bitcoin.

Experts refer to the Lightning Network as a 'second layer' protocol that works with blockchain to simplify transactions between different nodes. Since the participants in a transaction do not have to immediately publish this transaction on the blockchain, this can save some time by using peer-to-peer network design in order to bypass some of the latency in traditional cryptocurrency transactions.

Was the explanation to "Bitcoin Lightning Network"Helpful? Rate now:

Further explanations for the initial letter B