It has been over 5 years since the first version of the
Lightning Network whitepaper was released. LN is an off-chain scaling solution created for Bitcoin. It allows two users to make a payment channel and transfer bitcoins almost instantly and with minimal fees. If that sounds too complicated, feel free to use custodial wallets (like the Blue Wallet), where you are not required to open your own payment channels.
This network can be integrated into altcoins as well. Litecoin already uses it. As Andreas Antonopoulos explained in his
YouTube video, LN can be used on other blockchains that support multi-signature addresses and time locks.
I will not go into any more specifics about the network because
Rath_ has already written several extensive topics about it.
To learn more about it, I suggest you take a look at:
Basics of the Lightning NetworkThe Lightning Network FAQ1. I would like to know if you have ever used the Lightning Network?
2. How often do you use it, and how would you rate the experience and difficulty of use?
3. Which Lightning implementation did you try, and what is your favourite one?
4. What do you think can be further improved?
Please keep discussions on topic! Lets talk about user experiences and not whether you are pro or against the Lightning Network.
I have personally never used the Lightning Network. Not because I am avoiding it, but because I am not exchanging money with the same users multiple times that would require me to use it. I have also not yet used a service or platform where I was required to send Lightning payments.