The Lightning Network is a scalability solution built on top of Bitcoin that allows users to send and receive BTC quickly and with virtually no fees. The Lightning Network is an off-chain, Layer 2 solution that solves the current Bitcoin bottleneck of slow and expensive transactions.
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Circulating supply0 BTC
The Lightning Network mission is to create a “network that will allow Bitcoin to scale to billions of users without custodial risk or blockchain centralization”.
Using Lightning, Bitcoin transactions are now nearly instant with any party. It is possible to pay for a cup of coffee with direct non-revocable payment in milliseconds to seconds.
Bitcoin blockchain fees are far too high to accept micropayments, especially with the smallest of values. With this system, near-instant micropayments using Bitcoin without a 3rd party custodian would be possible, such as paying per-article to read a newspaper.
Financial contracts are especially time-sensitive and have higher demands on blockchain computation. By moving the overwhelming majority of trustless transactions off-chain, it is possible to have highly complex transaction contract terms without ever hitting the blockchain.
So long as there are similar hash-functions across chains, it’s possible for transactions to be routed over multiple chains with different consensus rules. Neither the sender nor receiver has to trust (or know about) the other chains. All the receiver cares about is a conditional payment upon knowledge of a secret on their chain.
Visit Travala.com and search for a hotel, home, flight, or other travel product by entering your destination and dates.
Select your desired choice from the available options.
Enter the required traveller details.
Select Crypto as your payment method, then select BTC.
Click Complete Reservation. In your BTC Wallet, input the generated address by scanning the provided QR code or by copying the text. Ensure that the exact BTC amount is entered and send the payment.
Click Payment sent. Your transaction will be processed and you will receive a confirmation email once your voucher or e-ticket is available.
Store your BTC securely with the following wallets:
Are you an exchange or wallet provider that supports BTC? Contact us to have your platform added to the lists above.
No. The Lightning Network does not implement its own token, it simply expands Bitcoin’s usability by making it faster, cheaper, and more accessible.