Lightning Network’s Advantages As Payment Technology

Bitcoin Magazine

This is an opinion editorial by Yuya Ogawa, a software engineer and co-host of the Diamond Hands community.

This article is based on the content of the “Understanding Lightning” report produced by the Diamond Hands community, the largest Lightning Network community in Japan. The report aims to provide an overview of Lightning’s technology and ecosystem for a non-technical audience.

What’s So Special About The Lightning Network?

Bitcoin was brought into this world over a decade ago to enable peer-to-peer payments without the need for a trusted third party. In order to maintain this censorship resistance, Bitcoin limits its throughput to 1M vBytes per block, every 10 minutes, keeping it easy for anyone to run their own node.

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