Are Crypto Payments Even a Thing or Just a Dead Gimmick?
— Payments, Dead, Bitcoin, Payment, Volatile, Making, Channel, Crypto, Gimmick, Lightning, Thing, Network, Volatility — 1 min read
The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem. Lightning Network users can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. For example, one Lightning Network user, Jim, can use his balance to instantly buy whatever he pleases at the corner store. Similarly, Jim can use the Lightning Network at the cafe next to the corner shop. Because Jim has opened a. channel with the corner. store, Jane can also use the. Lightning. Network to pay for things there. Source