[2017-12-22] Lightning network to bypass bitcoin blockchain highway

Is Bitcoin a precious store of value to be “hedl” until the price goes up, or can consumers spend the cryptocurrency on everyday purchases? Currently, it’s the first option — it makes more sense now to horde the cryptocurrency. Transaction fees and long processing times make spending the digital gold cumbersome — and expensive. Spending high fees to process a BTC transaction for small purchases is simply not realistic. The Lightning Network has a solution, at least in theory.

However, innovation in blockchain technology may speed up the process and allow consumers to use the cryptocurrency. The Lightning Network aims to fix Bitcoin’s shortcomings. Earlier this month, developers successfully sent the first transaction over the network, paving the way for a faster, more efficient payment system.

more: https://dowbit.com/l-n-bypass-bitcoin-blockchain-highway/

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