Bitcoin Lightning Network: definition, explanation and co.

This is where the Bitcoin Lightning network comes to the rescue: it enables transactions in near real time, with minimal fees that are significantly higher on average under 0.01 US Dollar per Transaction lay. These are often a fraction of a cent. But how does that work? Users who want to carry out Bitcoin transactions do not send them directly to the Bitcoin blockchain as usual, but rather to the Lightning network via a Lightning wallet. Since not all wallets are compatible with the Lightning Network, users need a separate Lightning wallet. Users either switch completely to such a Lightning wallet, or they install it additionally, send Bitcoin from their standard wallet to the compatible wallet and then trade from there. This connects users to the network and opens a payment channel for senders and recipients. The transactions now take place in this channel and are not initially part of the Bitcoin blockchain.