The LIGHTNING NETWORK Explained
Due to massive growth of popularity of bitcoin around the globe there are more transactions happening on the network but there was a big problem the network can't handle massive request unlike
XRP that takes 4 seconds to send and receive and
Ethereum that took only 2-4 minutes to receive and send
Bitcoin takes more than 1 hour to confirm the transaction.so many people are finding ways to fix this problem and now that is when the lightning network comes.
What is Lightning Network? The Lightning Network is a scalable that features an instant, peer-to-peer, trustless payment network that was developed on top of the Bitcoin blockchain. It allows for fast,efficient and cheap payments between each users.
For more details, please refer to the specification:
https://github.com/lightningnetwork/lightning-rfcDoes all transaction in the LN is public? No, all going on transactions on the Lightning Network are not publicly broadcast. But instead, they were highly and fully encrypted and routed from the payer to the payee via intermediate nodes, using a tor-like onion routing protocol.
In short, Lightning network transactions offer significant privacy,security,safety and anonymity improvements over regular on blockchain transactions.
As a result, transactions cannot be displayed on this explorer.
The Lightning Network Features1.Instant Payments2.Scalability3.Low Cost4.Cross BlockchainsTo know more about the
Lightning Network please refer to the site below:
http://lightning.network/