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Benefits of Lightning Network Payment Technology - Bitcoin Magazine

This is an opinion edit by Yuya Ogawa, software engineer and co-organizer of the Diamond Hands community.

This article is based on the report “Understanding Lightning” produced by Diamond Hands Community, the largest Lightning Network community in Japan. This report is intended to provide an overview of Lightning’s technology and ecosystem for non-technical readers.

What’s special about Lightning Network?

Bitcoin was introduced into this world over a decade ago to enable peer-to-peer payments without the need for a trusted third party. To maintain this censorship resistance, Bitcoin limits throughput to 1M vBytes per block every 10 minutes, making it easy for anyone to run their own node.