3 ms·
The not so generally accepted answer for Bitcoin's low TPS is to use something called the lighting network. It's a way to lock up funds so you can tx with low
by XR0CSWV3h3kZWg 9y ago
The not so generally accepted answer for Bitcoin's low TPS is to use something called the lighting network.
It's a way to lock up funds so you can tx with low fees and quick confirmations because you aren't hitting the main chain until you want to withdraw your funds.
It's performing a wire transfer to venmo, once you do it you don't have to pay to move it around in venmo, except with the lighting network there is no counter party risk. If venmo gets hacked you don't lose your funds, they can't try and steal them, they can't prevent you from withdrawing.
The technical details are, a bit hairy though.