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Why Was the Bitcoin Lightning Network Created?

The Lightning Network solves this problem by creating a layer on top of the Bitcoin blockchain which enables users to conduct transactions instantly and directly between one another.

The Bitcoin Lightning Network was created to address the scalability limitations of the Bitcoin network. 

Bitcoin transactions are processed on a decentralized network, with each transaction needing to be verified by multiple nodes to ensure its validity. This verification process takes time and can cause delays in transaction confirmation. 

The Lightning Network solves this problem by creating a layer on top of the Bitcoin blockchain which enables users to conduct transactions instantly and directly between one another. These transactions are done off-chain, meaning they do not need to be verified by all nodes on the network. 

Instead, they are only verified by the nodes involved in the transaction. This makes the Lightning Network much faster and more scalable than traditional bitcoin transactions. 

The Lightning Network also reduces transaction fees since it avoids the need for miners to verify every transaction.

Be Your Own Bank. Choose to Use Bitcoin.

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Plans are Developing

Plenty of research is the key to making something a success. The research continues whilst crowdfunding ticks along. The Academy at Bitcoin Hideaway will be pumping out Bitcoiners in 2024.

Learning Bitcoin – Keeping it Simple

Learning new things can be difficult for most of us; especially technical things. It is far too easy to get lost in a cloud of information. Keeping Bitcoin Simple will be a major focus at the Academy at Bitcoin Hideaway.

Fundraising for Bitcoin Classroom

Time to step up and make things happen. Learning Bitcoin is essential to a decentralised future. A life of freedom.

The Old Farmhouse at FortyAcres

Holiday Accommodation and Short Breaks in Daingean, County Offaly, Ireland. Cycling. Kayaking. Self-Catering.

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