#bnbgreenfield SATOSHIS #BITCOIN LIGHTNING.P4
Bitcoin Lightning Network is a second-layer payment protocol that allows for fast and cheap Bitcoin transactions. It does this by creating payment channels between users, where transactions can be settled off-chain. This means that they are not recorded on the Bitcoin blockchain, which saves time and fees.
Satoshis are the smallest unit of Bitcoin, and they are also the smallest unit that can be transferred over the Lightning Network. There are 100 million satoshis in 1 Bitcoin.
To use the Lightning Network, you need to have a Lightning wallet. This is a software wallet that is specifically designed for Lightning payments. Once you have a Lightning wallet, you can create payment channels with other Lightning users.#BTC
To create a payment channel, you need to deposit some Bitcoin into the channel. Once the channel is created, you can send and receive payments to and from the other user without having to pay any fees.
When you send a Lightning payment, your wallet will create a payment invoice. This invoice contains all the information that the other user needs to pay you, including the amount of satoshis you want to receive and your Lightning address.
The other user can then scan the payment invoice with their Lightning wallet to pay you. The payment will be settled instantly, and you will receive the satoshis in your Lightning wallet.
The Lightning Network is still under development, but it is already being used by a growing number of people and businesses.
Here are some examples of how satoshis are used in Bitcoin Lightning:
âą You can buy a cup of coffee at a Lightning-enabled cafe using satoshis.
âą You can send a tip to a content creator on social media using satoshis.
âą You can play a game online and pay for in-game items using satoshis.
âą You can even send money to friends and family around the world using satoshis.
The possibilities are endless, and the Lightning Network is making it easier and easier to use Bitcoin for everyday payments.
