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How to Earn Bitcoin By Running a Lightning Node

10 Nov How to Earn Bitcoin By Running a Lightning Node

Posted at 11:18h in Bitcoin News by

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How to Earn Bitcoin By Running a Lightning Node 101
Source: iStock/calvindexter

Depending on who you ask, the Lightning Network will either be the long-awaited solution to Bitcoin’s (BTC) scalability woes or a technological experiment that is bound to fail. Regardless of where your opinion lies, you can currently use the Lightning Network – despite still being in beta – to earn a small amount of bitcoin.

What is the Lightning Network?

The Lightning Network is a second-layer protocol that operates on top of the Bitcoin blockchain to enable off-chain, low-cost, high-speed bitcoin transactions through a network of bidirectional payment channels called Lightning channels.

The primary idea behind the Lightning Network is to take the pressure off the Bitcoin blockchain (or any other compatible blockchain) by processing transactions off-chain and only recording the starting and ending balance on the blockchain.

According to the Lightning Network analytics platform 1ML, there are currently over 10,000 Lightning nodes with almost…

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