Lightning Network pros

As mentioned before, the Lightning Network is only the first step. It is still in the development stage, and it remains to be seen whether it will actually work as the developers imagined. If so, here are some of the most important advantages of Lightning Network from which you can benefit:

Transaction speed. Once the network is online, there is no need to wait for multiple confirmations for every transaction you try. No matter how busy the network is, transactions are almost instantaneous. If this happens, the cryptocurrency market will take a huge step towards being able to compete with traditional payment systems such as Visa, MasterCard and PayPal.

transaction fee. Since the transaction will actually take place within the Lightning Network channel and outside the blockchain, you only need to pay the smallest fee (if any). This is one of the main advantages of Lightning Network, because it will completely make Bitcoin a payment method for shops, cafes, bars, etc.

Scalability. It is said that the Lightning Network is capable of bringing the number of transactions per second of Bitcoin and other cryptocurrencies to an unprecedented level of at least 1 million transactions per second.

** Cross-chain atom exchange. **The first test of cross-blockchain transactions worked, and all of this is very exciting. As long as two blockchains share the same cryptographic hash function (and shared by most major regional chains), users will be able to forward money from one chain to another without having to trust third-party intermediaries, such as exchanges. This technology has truly revolutionary potential.

Safe and anonymous. The vast majority of cryptocurrencies are not completely anonymous. Sending can still be tracked from one wallet to another. However, when it comes to Lightning Network, most transactions occur outside the main blockchain, so almost all micropayments made through the Lightning channel are untraceable.