What is the Bitcoin Lightning Network and How Does it Work?

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Today we'll explain Bitcoin Lightning Network! We'll go over everything about it - what it is, how it works, and all the details about fees and wallets.

The lightning network is a second layer protocol that sits on top of the bitcoin network. It was conceived by Joseph Poon and Thaddeus Dryja in 2015 and used the concept of payment channels to help combat the scalability issues surrounding bitcoin. Mainly the speed of on-chain bitcoin transactions, as well as the cost per transaction.

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Disclaimer:
Although BeInCrypto aims to inform and educate readers from all over the world, it is important to remember that investing in cryptocurrency is risky. Neither this video nor its authors should be held responsible for any investment decisions, and nothing published here should be considered financial advice. We always urge our readers/viewers to do their own research and never invest more than they can afford to lose.
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