LIGHTNING NETWORK, THE SOLUTION TO THE SCALABILITY OF BITCOIN AND ITS BLOCKCHAIN

This is a new alternative and option to make payments from the bitcoin blockchain network, the first thing we have to understand is that today bitcoin has had many problems to generate transactions, one of the promises of bitcoin since its inception was that they were going to allow making small payments among their users, but due to the growth and the technology boom that has been complicated since the blocks formed by a blockchain are no longer allowing so many transactions and confirmations at the same time and among other things Bitcoin mining costs are getting higher every day.

Then bitcoin is not as profitable to make payments of simple things better known as day-to-day transactions but rather for higher investment values ​​since the commissions are very high with respect to the smaller amounts of transactions.

Lightning Network is a new proposal that already has about two years in the market and adapts perfectly to the blockhain that today exists within bitcoin, it allows to create a new channel to carry out transactions, something very common nowadays in the world and between the People are those small payments especially among friends and businesses such as restaurants and cafes.

To bring this to the world of cryptocurrencies with Lightning Network, private channels are created where all those types of transactions can be carried out much more quickly with lower costs and above all that the confirmations are minis.

Many people think that they would have to have bitcoin for these small transactions but in reality it is not like that because with lightning network as a proposal could work very well in other blockhain like ethereum or ripple and some other options, but good so far in bitcoin This is where the biggest problem arises due to the high costs of your transactions.

Lightning network does not come to be a new blockchain nor does it come to replace the bitcoin infrastructure but it adapts and comes to optimize it. As soon as they begin to do some tests that are in their beta version in 2018 but the community is already beginning to accept it and to believe a lot in this proposal that adapts to a technology that we already trust; it is not a hard fork nor is it a new cryptocurrency but it is born in the bitcoin blockchain.

In the particular I think that, this decentralized world needs that the technology must go chaining one after another taking advantage of what already exists as a new way to optimize and improve, commonly something to which we are not accustomed but every day something new comes out and replace it or be a clean slate.

The most important thing about this technology that is born today is that we need to lower costs almost to zero since the idea of ​​paying things online in a decentralized way should not be more expensive than using a credit card, a debit card or making an electronic transfer just to make things work well.

Precisely there are three aspects that are the most criticized today in bitcoin:
The impossibility (increasingly noticeable) of sending small amounts of money due to high costs, its operational limit of 7 transactions per second and having to wait 10 minutes of time to receive a confirmation (important the "time", and that sometimes a transaction may be waiting for hours to have a single confirmation, something that is not good for the bitcoin expansion, because with Lightning Network, this would be solved.

In a more understandable way and for those who still do not have much experience in this matter these would be its 3 most characteristic points:

1. Instant payments: possibility to make payments immediately without worrying about confirmation times. The security of such transactions is possible thanks to small contracts that do not require the creation of a single transaction for each payment.

2. Scalability: Ability to process millions and even billions of transactions per second through the network at very low costs to be carried out outside the chain of blocks further strengthening the use of bitcoin.

3. Micropayments: Initially bitcoin solved it but little by little, and unfortunately, that capacity is disappearing. If you want to send some dollar cents in bitcoin to another person or business, you can pay an extra 100% in commissions to guarantee that your transaction is confirmed by the miners. Which completely destroys one of the potential uses that characterizes bitcoin. With this technology this would come to be guaranteed

If you want to check all the latest developments and news you can also do so on the Lightning network page. Do not stay here, continue on your discovery about bitcoin.

Other links of interest if you are entering this new world of cryptocurrencies can be the following:

• Binance; Exchange for purchase, sale, exchange and trading of cryptocurrencies:

• AIRTM; Platform on the web that allows you to buy, sell $ dollars and convert them to your local currency:

• Uphold; Platform on the web to exchange dollars for cryptocurrencies :

•Cryptominingfarm; Platform to invest in virtual mining: