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What does “闪电网” mean? (Lightning Network)

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What does \”闪电网\” mean? What is the difference between it and Bitcoin\’s payment c

What does 闪电网 mean? (Lightning Network)

What does “闪电网” mean? What is the difference between it and Bitcoin’s payment channels? Bitcoin’s payments are completed through direct transactions between bank accounts. That is to say, when someone makes a payment to another person, they receive a small amount of funds consisting of a group of digital currencies. These small amounts can be used or accepted by either party at any time. However, if there is a new technology that allows large amounts of funds to be transferred without the help of intermediaries, then the money can be moved out from another entity.

Lightning Network

The Lightning Network is a payment channel based on Bitcoin. It uses blockchain technology to provide users with a fast and low-cost way to transact. Its characteristic is trustless: sending or receiving funds from others without a central intermediary is a simple process. Through this method, fast, cheap, and efficient transaction settlements can be achieved. (AMBCrypto)

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