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RE: Crypto Academy Week 3 Homework Post for [@gbenga] Segwit Bitcoin Network or Legacy Bitcoin Network?

in SteemitCryptoAcademy4 years ago

From what I read it will be the Lightning Network which is an ingenious solution to the Bitcoin scalability problem and has definite advantages:

  • The transaction fees are tiny (currently 1 satoshi per transaction), which allows micro-payments.
  • Transactions are almost instantaneous since their validation depends only on the latency time of the network. This is where the network - Lightning takes its name: payments are made at lightning speed.
  • Transactions are much more confidential than transactions on the chain.