{"id":8901,"date":"2022-09-30T06:01:47","date_gmt":"2022-09-30T06:01:47","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=8901"},"modified":"2022-09-30T06:01:47","modified_gmt":"2022-09-30T06:01:47","slug":"the-lightning-network-solution","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/09\/30\/the-lightning-network-solution\/","title":{"rendered":"The Lightning Network solution"},"content":{"rendered":"\n<p>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\u2019ll show you exactly how to use the Lightning Network for everyday transactions like paying for a cup of coffee.&nbsp;<\/p>\n\n\n\n<p>The Lightning Network is an example of a\u00a0Layer 2 bitcoin service. An off-chain approach was first formally proposed by Joseph Poon and Thaddeus Dryja in 2015. <\/p>\n\n\n\n<p>In practice, it takes the burden of small transactions off the Bitcoin blockchain and instead employs micropayment channels, controlled through something called\u00a0multi-signature (multi-sig) wallets. This is a fancy term for a way of two or more parties all having to agree to changes to balances of mutually held payment channels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019ll show you exactly how to use the Lightning Network for everyday transactions like paying for a cup of coffee.&nbsp; The Lightning Network is an example [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[528],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/8901"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=8901"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/8901\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=8901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=8901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=8901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}