The Lightning Network is a "Layer 2" payment protocol designed to be layered on top of a blockchain-based cryptocurrency such as Bitcoin. It enables fast transactions between participating nodes and has been praised as a solution to the Bitcoin scalability problem.
By enabling user-created channels for transactions, the Lightning Network allows for large volumes of transactions to be processed quickly and cheaply. It is a significant part of Bitcoin’s Layer 2 scaling solutions, helping to accommodate more users and transactions.
