Bitcoin Lightning is a payment protocol built on top of the Bitcoin blockchain that enables near-instant and low-cost transactions between parties.
This layer-two scaling solution uses a network of payment channels between users to execute transactions off-chain, reducing the load on the main blockchain. Bitcoin Lightning transactions are secured by the underlying Bitcoin blockchain, and settlement occurs when payment channels are closed and the final balance is recorded on the blockchain.
Lightning enables micropayments, allowing users to send and receive very small amounts of Bitcoin without the high fees usually associated with on-chain transactions.
Compared to on-chain payments, Lightning is faster, more private, and cheaper, making it an attractive option for those looking to transact with Bitcoin more efficiently.
The growth of the Lightning network has been impressive in recent years, with a growing number of developers, exchanges, and merchants supporting the technology.
