Post
Topic
Board Bitcoin Technical Support
Re: Difference between Lighting Network and Bitcoin
by
SamReomo
on 28/04/2023, 07:06:34 UTC
I'm worried to know the difference between Lighting Network and Bitcoin, when I saw the Lighting Network issues, I Don't know were to start to differentiate them.
Is Bitcoin a Lighting Network, or Lighting network give rise to Bitcoin transactions or these are two different technology, because this information of bitcoin and Lighting Network is understandable to people know the difference. Please I want to know the difference

Bitcoin and Lightning Network aren't the same thing. Bitcoin is the first and no-1 cryptocurrency of the world and it works on its own network named Bitcoin network. The lightning Network on the other hand is a layer 2 scaling solution that mainly works on top of Bitcoin to increase the transaction speeds, and reduce the transaction fees.

The transactions based on Lightning network aren't always recorded instantly on Bitcoin blockchain and have faster speeds than regular transactions. The Lightning network is the recommended choice for small transactions as the fees are low for those transactions.

Lightning network basically creates payment channels between two individuals, and that channel can be updated without being recorded on Bitcoin blockchain. Once the both parties agree with the transactions then they can close the channel and after closing the channel the transaction will be recorded on Bitcoin blockchain.