What is Lightning Network?
The Lightning Network is a layer-2 solution for Bitcoin that enables faster and cheaper transactions by creating off-chain payment channels between users, reducing congestion on the main blockchain.
Transactions in Bitcoin Lightning Network
Fast and cheap transactions in Bitcoin with lightning network and Calypso Pay.
Almost costless transaction fee. Fees are near zero, often less than a cent.
Any number of transactions
per 1 second. The network can handle thousands of transactions per second.
1 second confirmation time on
blockchain. Instant payment confirmation without waiting for blocks.
Where use lightning network
Lightning network is for business with high frequency incoming and out going transactions. Lightning Payments are the most useful type of payment when it comes to small purchases.
Low cost products that are usually paid with by cash or card are too small to take up precious space on the relatively slow and expensive Bitcoin Blockchain.
Daily over 400 000 transactions go through Bitcoin blockchain.
Bitcoin blockchain can cope with only 7 transaction per second. Transactions queue and eventually they become slowly and costly.
Lightning network can solve both problems, while people can still use their favourite BTC.
Lightning FAQs
What are the benefits of using Lightning Network?
Using the Lightning Network for business offers several key benefits:
Low Transaction Fees. Lightning reduces fees by processing transactions off-chain, making it ideal for high-volume or microtransactions. The average cost of transaction in Lightning Network is less than 1 cent.
Fast Payments. Instant confirmation and transactions settle in seconds.
Scalability. It can handle 1,000,000 of transactions per second, supporting business growth without blockchain congestion.
Enhanced Security. By settling only final balances on-chain, it maintains Bitcoin’s security while reducing risk of fraud.
