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What is a Lightning Network Node (The Two Cores of Lightning Network)

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A Lightning Network node refers to the two cores of the Lightning Network. The

What is a Lightning Network Node (The Two Cores of Lightning Network)

A Lightning Network node refers to the two cores of the Lightning Network. The Lightning Network is a payment system that uses Bitcoin as the payment method and enables fast fund transfers through peer-to-peer channels. Users can send messages to any service provider (including emails, SMS, etc.) and receive payments within the channel without relying on third-party platforms or centralized servers. Since each node has its own private key and mnemonic phrase, they also need to transfer money to a designated wallet address to complete the transaction and receive corresponding rewards. Lightning Network nodes can help facilitate payment processing for people more conveniently.

A popular belief in the market is that “hackers” exploit the anonymity vulnerability of the Bitcoin blockchain, making it impossible to fully trust the owner from the beginning. (Bitcoinist)

The Two Cores of Lightning Network

The two cores of the Lightning Network are the first layer (Layer 2) and the second layer (Layer 1). These two technologies are designed on the Bitcoin blockchain and have made significant development in the past few years, but are still in relatively early stages. Layer 0 mainly focuses on transaction fees and privacy. The Lightning Network is a peer-to-peer payment system that incentivizes the interaction of assets sent to the user’s wallet with its recipients in order to transfer funds externally. It has many advantages, including seamless and fast user experience, scalability, and decentralization, as it effectively prevents the issue of double-spending. Additionally, the system has a key feature of being trustless. Layer 1, which uses sidechains as bridges to achieve more efficient value transfer, allows users to instantly acquire and exchange payments and convert their currency into other digital assets. This new routing solution aims to enable every transaction on Bitcoin to be sent or received instantly between different exchanges for small amounts.

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