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The Lightning Network: what is it?
The Lightning Network: what is it?

Everything you need to know to get started using bitcoin on the Lightning Network

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Written by CL - Bitcoin Well
Updated over a week ago

What is the Lightning Network?

Imagine Bitcoin as a bustling highway during rush hour - that's the main blockchain during peak times. The Lightning Network is like a network of side streets that helps alleviate this congestion. It's a "second-layer" solution built on the Bitcoin blockchain, allowing for faster, cheaper transactions without compromising Bitcoin's security.

Lightning Network Benefits

  • Speed: Transactions are nearly instant, compared to Bitcoin's average 10-minute confirmation time.

  • Low fees: Perfect for micropayments, as fees are minimal.

  • Scalability: Potentially millions of transactions per second, far exceeding Bitcoin's 7 transactions per second

  • Privacy: Improved transaction privacy compared to on-chain transactions.

Where to download a Lightning Wallet?

If you're in Canada, we suggest using the Wallet of Satoshi.
If you're in the United States, we suggest using Muun.
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