5 Reasons Why the Lightning Network Is Essential for Bitcoin’s Future.
LN will make Bitcoin a large-scale means of payment for everyday life.
The future of Bitcoin as a means of payment in everyday life will be through the Lightning Network. This is something I've told you about several times in the past. As a reminder, the Lightning Network (LN) is a P2P payment protocol, built as a second layer application on top of the Bitcoin Blockchain.
The Lightning Network aims to enable fast, low-cost transactions on the Bitcoin network. The LN addresses Bitcoin's scalability issues for everyday payments.
When you open a payment channel within an LN node, only the final result will appear on the Bitcoin blockchain, at the time the channel is closed. LN adoption continues to grow, and the Bitcoin Miami 2022 Conference confirmed this momentum.
More and more companies, not the least of which are willing to support Bitcoin payments via the Lightning Network. Strike has partnered with McDonald's, Starbucks, and Shopify. The effects won't be immediate of course, but this is great for the future of Bitcoin.
In what follows, I'd like to open your eyes to 5 big reasons why I think the Lightning Network is essential for the future of Bitcoin.