Category: 5. How to use the Lightning Network

Lightning Network has been growing nicely even though most mainstream businesses are still yet to start accepting payment over lightning. 1ML is a great resource to fetch real-time data of the Lightning Network, which now span 0ver 20,000 nodes and more than 45,000 Lightning channels created. See a map by Blockchain Caffe showing the locations… Continue reading How big can the Lightning Network get?

Now that you have your Lightning wallet funded, you can start creating or settling invoices on Lightning Network. To make a payment, you will need to open a channel. For that, you need to know your partner’s channel public key and their IP address. Since you’re working in a testnet environment, we’ve made available some… Continue reading Practical scenarios of creating and settling invoices

Follow the steps below to set up and your full lightning network node. 1. Download the client through the Lightning project Github profile If you use Windows, download Lightning-win32 for Mac OS; try Lightning-darwin. 1. Download lightning client
 2. Run the client
 3. It asks you if you want to create a new wallet or import… Continue reading 3- How to set up a full node on the Lightning network

Setting up a non-custodial wallet is a more leisurely approach to connect to the Lightning Network if you don’t want the full-node experience. Simply download the Bitcoin Lightning Wallet app on your Android phone or the Blue Wallet, which works perfectly for iOS and Android, and you can start creating and settling invoices.  With this, you can open… Continue reading 2 – Setting up a non-custodial Lightning wallet

We are going to use Bottlepay as our example for a custodial Lightning Wallet, because their user experience is great for beginners. There are plenty of other options. Step 1 – Download the Bottlepay App from Playstore of App Store Step 2 – Choose your country Step 3 – Add a mobile number which becomes your log-in info Step 4 – Agree to the… Continue reading 1- How to set up a custodial Lightning Wallet

How fast is the Bitcoin network? Currently, Bitcoin can only process between 2 -7 transactions per second. For context, Visa, the legacy payment network that powers your debit and credit cards you use for shopping, process up to 150 million transactions a day. In comparison, its network capacity is 24,000 transactions per second. How then… Continue reading Key features of the Lightning Network

Can the Bitcoin network have it both ways, i.e. maintain its original design and still serve as a high-speed network for micropayments? Through the Lightning Network, it can, and we’ll show you exactly how to use the Lightning Network for everyday transactions like paying for a cup of coffee.  The Lightning Network is an example… Continue reading The Lightning Network solution

What you’ll learn The problem Lightning solves Setting up a custodial Lightning Wallet Setting up a non-custodial Lightning Wallet Setting up a full node on the Lightning network Right now, Bitcoin is an excellent store of value but slow and expensive for everyday transactions, which is where the Lightning Network comes in. The so-called layer… Continue reading How to use the Lightning Network