I decided to do some research about the lightning network since I found that it is the fastest transaction network. I went to the history of the network and discovered that the bitcoin lightning network white paper was released on January 14, 2016, and it was finally launched on March 15, 2018. Through this process of learning, I learned something that I would like to share with my fellow newcomers who might not know about it on the forum.
The lightning network has a theoretical throughput of 1 million transactions per second, which is better than that of bitcoins, which is only 7 transactions per second.
It also has a fast transaction processing time of under a minute, compared to that of bitcoin, which is processed in 10 minutes.
And also, lightning network fees are lower and negligible than those of the main bitcoin network.
This is what I was able to convey and understand, but the threat is open to my fellow members who have done the same study as me and others who know more than me. The flow is open, and I welcome any other ideas and knowledge that other members will also add to what I've said.
Transactions in the lightning network are instantaneous and take place at the level of the second layer, where the balance within the channel is updated instantly, but you have two transactions, one to open the channel and the other to close it, and both are on-chain transactions. Therefore, on average, you need to wait for 20 minutes, during which you can make instant payments for a month or more, depending on the second party .
There is no max number of TX per As I mentioned, it is instantaneous, and channel values is updated immediately.
