The lightning network is a second layer that is added to Bitcoin’s blockchain to allow off-chain transactions. By taking transactions off the main Bitcoin network, ‘traffic’ moves much faster and associated fees are lower. That's because Bitcoin can only process around 7 tps, posing a speed and scalability issue. Let's explore what is the Lightning Network exactly, how it works, and the challenges it currently faces!

Links Mentioned:
Learn about Bitcoin's DeFi ecosystem - https://youtu.be/9n4WPaqZKj8
Bitfinex's role in the Lightning Network - https://youtu.be/UyJh6tRPwaM
Explore BTC - https://www.coingecko.com/en/coins/bitcoin

Timestamps:
00:00 Why Bitcoin Lightning Network?
00:40 What is the Lightning Network?
01:24 How does Lightning Network work?
04:16 Security: Challenge 1
05:36 Volatility: Challenge 2
06:22 Transaction fee problem
07:21 Lightning Network is innovating

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