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News — LN

What is the Lightning Network, in a nutshell?

Posted by Taras Lanchev on

Lightning Network (LN) is a network of payment channels which exists outside the blockchain. Lightning Network relies on you opening a two-way trusted payment channel with another user which then turns into a network. The channel handles all the main transactions (opening and closing transactions) alongside all the secondary ones (all other transactions). All the main transactions are registered on the blockchain, but all the secondary ones exist only inside the Lightning Network payment channel that you have created. Let's imagine this in real life. Suppose you come to the pub for a few beers. You know that you'll be staying in that pub...

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