Lightning Network

🧬 AI profile — grown from 6ic coverage The Lightning Network is a decentralized, off-chain scaling solution for Bitcoin, designed to facilitate faster and cheaper transactions by enabling the transfer of small amounts of cryptocurrency between users without requiring them to be on the main Bitcoin blockchain. Developed by Joseph Poon and Thaddeus Dryja, it enables the creation of payment channels that allow for multiple transactions between two parties without the need for on-chain confirmations. This enables a higher volume of transactions to be processed efficiently.