geek bitcoin

Understanding the Lightning Network: how it works and why it sucks

Bitcoin engineers face a future where rising transaction fees price users out of using bitcoin for everyday commerce. There are a few solutions for lowering those fees and the latest, most hyped solution is the Lightning Network, a system built on a web of payment channels. I'll explain how payment channels work, how they can be put together to make the Lightning Network and show what this new economy looks like.

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