Bitcoin Lightning Network: This You NEED TO KNOW!! (Ep 221)
Coin Bureau
00:00
The Lightning Network for Bit Coin Payments
In less than a month's time, l salvador will become the first country to use the lightning network for b t c payments. Unlike most layer two networks for crypto currency, the lightning network is not a block chain. Instead, it consists of a series of interconnected payment channels created by two parties on the bickoyn network. To understand how this works, let's imagine you and the restaurant owner agree to settle your monthly tab in b t c. This means you'll have to create a payment channel on the bit coin block chain.
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