Discovering Lightning Network

Discovering Lightning Network

By yanis | little crypto guides | 15 Jul 2020


Lightning Network is probably the most interesting improvement of bitcoin protocol. It supports (theorically) an infinite number of transactions per second, compared to 7 (segwit) of bitcoin layer 1 network.

It also allows very low fees, about 1 satoshi, and privacy (txns aren't directly wrote on the chain). 

 

For all these reasons, discovering and using that it a very good thing. 

 

Part 1 - Installing Wallet

If you just want to use LN without running bitcoin full node (isn't blockchain around 350GB ???) and making complicated settings, I recommend using "spv" wallet like BLW (non-custodial) or a centralized wallet like wallet of satoshi (custodial)

disclaimer : With non-custodial wallets, 24-words seed is the ONLY way for recovering your bitcoins ! DO NOT LOSE IT !

 

 

Part 2 - Getting some satoshis

A wallet is good, a non-empty wallet is better. You can earn some sats on websites like ads4satoshis or games like bitcoin bounce. For withdrawal, just generate an invoice (ads4satoshis). Bitcoin Bounce will automatically redirect you to wallet app (lnurl).

The WD speed shows the power of this network.

 

Part 3 - Spend them

Now you have some satoshis in your wallet. So let's spend some for trying. 

we can use lightning network for :

 

It is the end of this article. I hope that you learned something in. 

If you liked it, please give a like and a tip, it's very rewarding for me, and share it with your friends



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