A lot of people constantly attack the bitcoin blockchain because of its high transaction fee. Scalability is a problem with most blockchains, and the bitcoin blockchain is no exception. It required attention as a completely decentralized P2P payment network, and the lightning network was proposed to address the network's scalability.
What is the Lightning Network, and how does it work?
By shifting transactions off of the main blockchain, the Lightning Network allows users to send and receive Bitcoin rapidly and cheaply – think of it as a highway's HOV lane.
The Lightning Network was created with the goal of making bitcoin transactions as quick and inexpensive as possible. It's a "layer 2" blockchain, which is a newer type of crypto technology.
How do I use it?
The Lightning Network is used to validate lightning transactions. This refers to the transfer of data from a sending network node to a receiving network node. In this situation, you must send bitcoin to a wallet that contains lightning (custodial or non custodial). Take BlueWallet as an example; after depositing bitcoin mainchain, you can begin transacting with bitcoin at lightning speeds.
Paxful is a good service for buying and selling bitcoin and other related coins in third-world nations like Africa, which I highly suggest.But please keep in mind that buyers on Paxful lose at least 20% of their weak fiat when compared to the spot price on leading global exchanges, and it doesn't stop there: most African fiat money is printed and shipped from abroad, which incurs additional costs for the government, which she will undoubtedly pass on to poor citizens in the form of taxes. As a result, Africa requires bitcoin as its sole legal tender. I strongly support "Bitcoin lightning" in Africa.
All in all, I was impressed by the lightning network.
