What is the bitcoin lightning network and which wallets support it?

[Blessedsam60]

Thanks for this information as it will help me develop or culture the habit of exploring crytocurrency market.. Crytocurrency has come to stay

 

[Shigobad2020]

The is the first time I'm hearing anything like like Bitcoin lightning, I've not come across it online or through any Bitcoin forum but that would be a good solution to the issue we are currently facing in regards to high transaction fees on the Bitcoin network and I hope there's one for ethereum also because the gas fee needed for transactions these days are high

I am just a newbie to bitcoin network and i have known one or two things about bitcoin but this is the first time i am hearing about about bitcoin lightening network, i think i still have a lot to learn.

 

[Kelly5]

I have never hear of this Bitcoin lightening network nor the wallets or type of wallets that supports it. Maybe this might not even be a fact in existence actually because it really looks strange to me

 

[joy101]

I have never hear this kind of coin before today is my first time of hearing this coin bitcoin lighting network, I have never invested in it before but I think I will try to do that.

 

[Elfinito]

Well I have never heard about Bitcoin lighting network, maybe I have not just reached that stage in the market or it may be something new or associated with some kind of exchange

 

[Aaron625]

Bitcoin lightning network enables you to transfer bitcoin faster than the usual transaction speed. You can also exchange bitcoin lightning to normal bitcoin using exchanges. The concept of this was introduced few years ago , with also some applications giving away free bitcoin lightning for inviting referrals.

 

[soxcryp]

The usual exchanges are beginning to join this initiative by creating new connection nodes.

This year the network has grown more than last year.

For example: the recent legalization of BTC in El Salvador implies its incorporation into the movement of remittances from the USA. For this, an interconnection agreement was established through LN.

 

[Ub40]

Personally, I can't say anything about bitcoin lightening network at the moment because I don't how it works as I have not used it before. But if actually it will solve the issue of huge fees in transactions concerning bitcoins, then it is a welcome idea. Then I will be happy to learn how it works from the gurus in this forum

 

[Justin]

AS far as I know bitcoin lightning network was introduced to make bitcoin transactions faster and cheaper. However, I do not know the technical aspect of this technology. I am still exploring.

 

[HayKay]

Well this is the first time I'm hearing about this and it's a welcome development because honestly, the transaction fees for bitcoin is very very high that's why we prefer to convert to more stable currencies and use that to transact

 

[GoldenLady]

Bitcoin is a very good coin for an investment, however the simple truth is that when it comes to the actual use of bitcoin and its practical application in terms of the possible merchants where you can use it to pay for items, its use becomes increasingly limited by the high transaction fees. In fact if you are making a payment that is less than ten dollars you can often see a transaction fee that is either greater than or equal to the value of the transaction that you are making. In this way it is not feasible at all and can deter people away from it quite a bit as well.

From what I hear there is a bitcoin lightning network that is able to reduce the transaction fees and the confirmation times of a bitcoin transaction? From those that may have used this in the past, is this true? And if so, what wallet is there that supports this as a way to transact with bitcoin in this way?

I remember a transaction where I was charged equivalent amount to receive Bitcoin. I've stopped using it and prefer the Tron network. However it's understandable that most people would prefer to have faster Bitcoin transactions since it's more accepted.

 

[Ononivami]

The bitcoin lightening network is very important and it has selected wallet that is compatible. This is the best network that has addressed many issues. The best development around bitcoin.

 

[Sincerem]

The lightening network is a tool in the blockchain technology which serves the purposes of improving the speed of transaction that Is the time it takes to perform transaction in crypto currency via the blockchain system.

 

[Lens]

The bitcoin lightening network is a platform that addresses the lingering issue that bitcoiners encounter with bitcoin transactions. The speed of the Bitcoinization network is super fast.

 

[Busybee]

Lightning Network is a second-layer network that has helped to scale up Bitcoins. By using the lightning network, bitcoin holders can transact by sending and receiving bitcoins quickly with only a fraction of the gas fee compared to the traditional method. The lightning network also highlights the business which supports the lightning network, this increases the business visibility among bitcoin holders.

 

[Sotherefore]

Your explanation has made me to understand what a bitcoin lightning network is all about, it is a nice crypto related technology that may help reduce the transaction fee of bitcoins and this will encourage bitcoins to be used in payment of goods and services without higher transaction fee.

 

[Planbizzle]

Bitcoin is a very good coin for an investment, however the simple truth is that when it comes to the actual use of bitcoin and its practical application in terms of the possible merchants where you can use it to pay for items, its use becomes increasingly limited by the high transaction fees. In fact if you are making a payment that is less than ten dollars you can often see a transaction fee that is either greater than or equal to the value of the transaction that you are making. In this way it is not feasible at all and can deter people away from it quite a bit as well.

From what I hear there is a bitcoin lightning network that is able to reduce the transaction fees and the confirmation times of a bitcoin transaction? From those that may have used this in the past, is this true? And if so, what wallet is there that supports this as a way to transact with bitcoin in this way?

A layer 2 payment technology called the Bitcoin Lightning Network is placed on top of the Bitcoin network. Efficient and reliable transactions between network participants are made possible by this system. There are many popular wallets that support it, including Wasabi and Blue Wallet.