Glossary > Lightning network

Lightning network

What is the Bitcoin lightning network?

The Bitcoin lightning network is a second layer lying on top of the blockchain creating private payment channels between parties.

The aim of the lightning network is to allow cheaper and faster transactions. These transactions are still secure and decentralized since they rely on the Bitcoin blockchain.

The lightning network creates payment channels between parties. These channels allow users to make instant transactions with low to non-existing fees. They remain open as long as necessary.

Scorechain Bitcoin Analytics platform supports the lightning network and informs users about lightning network-based transactions.