Cryptocurrency Q&A
Is there a coin for Lightning Network?
Is there a coin for Lightning Network?
Martina
Tue Dec 10 2024
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5 answers
1283
I'm wondering if there's a specific coin or token designed for use on the Lightning Network. I've heard about Lightning Network's potential to speed up transactions, but I'm not sure if it has its own currency.
5 answers
Valentina
Thu Dec 12 2024
Lightning operates without the need for its own dedicated token or blockchain.
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DondaejiDelightfulCharm
Thu Dec 12 2024
Instead, it leverages Bitcoin's existing currency, known as bitcoin, and its blockchain infrastructure.
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GalaxyWhisper
Wed Dec 11 2024
This integration allows Lightning to utilize Bitcoin's established security and decentralized nature.
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CharmedSun
Wed Dec 11 2024
Channels on Lightning can be opened and closed using Bitcoin's blockchain, but the actual payments made within these channels do not require blockchain confirmation.
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Lorenzo
Wed Dec 11 2024
As a result, payments on Lightning are extremely cost-effective and nearly instantaneous. This is because they bypass the congestion and fees associated with Bitcoin's main blockchain.
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