How does the Lightning network improve the scalability of Bitcoin?

1 answers

• Jan 12, 2022 · 3 years ago
  As an expert at BYDFi, I can tell you that the Lightning network is a crucial solution for improving the scalability of Bitcoin. It allows users to create payment channels that operate off-chain, which means that transactions can be conducted almost instantly and with lower fees. This is a significant improvement compared to traditional on-chain transactions. The Lightning network also enables micropayments, which were previously not feasible on the Bitcoin network due to high fees and slow confirmation times. With the Lightning network, Bitcoin becomes more scalable and can handle a higher volume of transactions, making it more suitable for everyday use.
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