What is Lightning Network


#1

Lightning Network is one of the most exciting developments in the blockchain ecosystem, allowing for zero-fee cross-chain payments secured by existing blockchains. In this insight I'll explain how lightning network works, how it facilitates cross-chain payments, and what this means for cryptocurrency adoption. But first, let's start with the basics and remind ourselves how traditional bitcoin transactions work. Notice that I will be using bitcoin as an example, but the same technology can be activated on any bitcoin-like blockchain that has segwit activated, such as litecoin, and I'm sure many others will follow.


This is a companion discussion topic for the original entry at http://rados.io/what-is-the-lightning-network/