What is the Bitcoin Lightning Network?

Question

What is meant by Bitcoin lightning network?

Answer 1

A layer-two payment technology called the Bitcoin Lightning Network runs on top of the Bitcoin network. It is intended to make Bitcoin transactions quicker, cheaper, and more scalable by allowing users to conduct off-chain transactions that are not reliant on network-wide validation.

The Lightning Network is mostly seen as a promising solution to the scalability problems the Bitcoin network is currently facing, but it also has the potential to enable a wide range of new use cases for Bitcoin as a form of digital currency.

If you are interested in Bitcoin technology then check out the below video for more information -