Bitcoin Lightning: Quick overview
Simply explained, Lightning Network is Bitcoin's second layer, which means it helps Bitcoin work better and faster.
Essentially, it was designed to solve two major problems Bitcoin faces today: slow confirmation times and expensive transaction fees. Instead of recording every single transaction directly onto the Bitcoin blockchain, Lightning creates secure “off-chain” payment channels between users. This allows people to send Bitcoin almost instantly, at a fraction of the usual cost.
Using micropayment channels, Lightning Network enables swift and cost-effective transactions. On top of that, this technology isn't just limited to everyday payments — it also extends its benefits to online casinos.
Now, we all know that one of the main pain points of online casinos is the withdrawal waiting time. Well, with Lightning Network, that’s a thing of the past. With Lightning, you can skip the usual confirmation queues and enjoy near-instant deposits and cashouts. It’s like stepping into a fast lane while everyone else is still stuck in traffic.