Bitcoin safari community on Nostr: The Bitcoin Lightning Network is a second-layer solution built on top of the Bitcoin ...

The Bitcoin Lightning Network is a second-layer solution built on top of the Bitcoin blockchain, designed to facilitate faster and cheaper transactions. It enables users to open payment channels between each other, allowing multiple transactions to occur off-chain. Only the opening and closing transactions are recorded on the Bitcoin blockchain, reducing congestion and lowering transaction fees. The network uses smart contracts to ensure security and trust between participants. It enhances Bitcoin’s scalability, enabling microtransactions and instant payments, making it more practical for everyday use, such as buying coffee or paying for online services, while maintaining Bitcoin’s decentralized nature.