This will give you a basic understanding of the lightning network, how it works, and where exactly it fits in the Bitcoin ecosystem
The lightning network is very new and some interesting use cases have come to the surface. It is definitely not for everyone and you need some technical expertise to get under the hood. Simply using it however is now quite simple.
This is short multiple choice quiz to cement the concepts we covered.
Sending bitcoin via the lightning network is instant as no confirmations are required on transactions inside a trust channel.
All you need is a BTC balance in a channel. When you refill your bitcoin lightning wallet from your bitcoin wallet, you are placing trust in the BlueWallet lightning node.
You can now tap the send option in your lightning wallet and enter a valid bitcoin lightning invoice address or scan the QR code you received from the requesting party.
It’s simple and easy. This is the main LN purpose. To be able to transfert bitcoins and other cryptocurrencies fast and efficiently.