Lightning Network

A subsequent layer operating on top of a blockchain, empowering increased transaction speed among participating hubs. This is one proposed scaling solution.

Features

• Similar as blockchain, the lightning network disintermediates central institutions, for example, banks, which are responsible for routing most transactions today.
• The lightning network is a mechanical solution planned to take care of the problem of transaction speed on the bitcoin blockchain by introducing off-record transactions.
• The lightning network was first officially expounded in a paper by Joseph Poon and Thaddeus Dryja in 2015.