Lightning Network explained in 10 minutes | The Bitcoin Layer

Welcome to The Bitcoin Layer, where we bring you research, analysis, and education for all things bitcoin and macro. In this episode, Nik explains how Lightning Network works using easy-to-understand analogies to the dollar and VISA. Learn why bitcoin’s speed and capacity limits are essential to preserve its neutrality. Explore the concept of layered money.

0:18 Cargoship analogy to describe bitcoin
1:17 Why we pay transaction fees to use bitcoin
2:04 Is bitcoin slow and limited?
2:40 Comparing bitcoin to the dollar and VISA
3:23 Bitcoin's most valuable characteristic is its decentralization
4:18 Bitcoin is neutral money
4:35 Lightning Network is the second layer of bitcoin
5:21 Lightning Network uses smart contracts, not credit
6:11 Understanding how Lightning Network works
7:10 Why Lightning Network is so important for bitcoin
8:53 Thank you to sponsors Zebedee and Voltage

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Research Associate Joe Consorti's Twitter: https://twitter.com/JoeConsorti
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