What is Lightning Network ?
When bitcoins are being transferred, the sellers will have a doubt in successful transactions and it’s a timely process. In order to overcome that,the lightning network is used which enables quicker exchange of bitcoins without any delays. The lightning network is defined in simple words as the second layer protocol operating on the bitcoin blockchain to perform faster and small payments.
Lightning network development for exchange
Bitcoins are still the evergreen cryptocurrency bought and used globally in spite of altcoins divergence. People prefer exchanges for buying or selling bitcoins instantly. Imagine an exchange letting the users wait for 3 hours to complete the transactions. But the user is debited with money but not receiving bitcoins for 3 hours. Sounds frustrating right? That’s why the lightning network is introduced in exchanges for instant approval and settlement
Mastering the lightning network
We Hivelance, with 10+ years specialized professionals in blockchain technology, leverage lightning networks for your crypto-wallets, as wallets are the integral part of cryptocurrencies, mainly in the trading/exchange part.
The lightning network transactions per second is approximately 1 millions transactions. Our blockchain professionals excel in designing lightning nodes that connect main blockchain networks and lightning systems efficiently without lag.
Advantages of bitcoin lightning network
1. Transaction speed
Each and every bitcoin holder will have the need of several bitcoin exchanges on a certain condition.But there is always a limitation in these transactions and the capacity of bitcoin network also ranges from 6 to 8 transactions per second.
To perform several hundreds of transactions per second, you need a lightning network for enhanced security and a higher level of transaction speed. During these transactions,cryptographic confirmations will be recorded on the bitcoin blockchain network bringing-in the faster procedure.
2. Transaction fees
Bitcoin transactions on a distributed ledger to various platforms have some fees to be paid by the users. Millions of transactions can be controlled by the lightning networks and the smaller transactions will not be charged any more. Lightning network supporting APIs will give instant and free transactions for all micro payments in merchant stores.
3. No minimum payments
There is no need for minimum and maximum payouts defined when using a lightning network. Even a small amount of bitcoin transactions can happen seamlessly with the highest speed per second. The lightning network is mainly discovered for bringing mass adoption of bitcoin among the people.
Features of bitcoin lightning network development
We at Hivelance create a lightning network for your bitcoin exchanges, exchange wallets, payments solutions with astonishing features like,
Two Factor authentication
Lightning network API
Lightning nodes development
Start to Develop your Lightning Network at Hivelance!
Talk to Experts for More Info
Call/whatsapp - +91 8438595928
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