Payment channels are the backbone of the Lightning Network as they enable the sending and receiving of off-chain payments. What Is A Payment channel? A payment channel is a trustless duplex financial relationship between two nodes on the Lightning Network, implemented by multi-signature Bitcoin transactions that share control over the…

In my previous Bitcoin bank article, I explained the concepts I used in building a simple Bitcoin bank, click on this link to read the previous article. The Bitcoin bank project has been extended to support Lightning payments, this article covers the concepts I used for my Lightning payments functionality. …

Lightning Network is a Bitcoin layer 2 solution that provides faster and cheaper transactions than Bitcoin on-chain transactions, Lightning scales Bitcoin without trading off decentralization, unlike scaling solutions like block size increase which will lead to centralization. You can read more about Lightning Network in this article: https://dev.to/tvpeter/lightning-network-your-gateway-to-bitcoin-payments-3j4

The Lightning Network makes Bitcoin transactions as fast and cheap as possible, using off-chain transactions powered currently by HTLCs (Hash Time Lock Contracts). Lightning also offers more privacy compared to Bitcoin where every transaction is broadcast on-chain before it can be confirmed. Lightning transactions are sent locally across payment channels. …

You need a Bitcoin wallet to perform transactions on the Bitcoin network, Bitcoin wallets can be categorized into two categories: custodial wallets, and non-custodial wallets. Custodial wallets Custodial wallets are wallets that don’t give users access to their private key, the private key is held by a third party and…

We were to choose Bitcoin projects to work on last week in the Qala Africa Bitcoin / Lightning development program's first cohort, I chose the Bitcoin bank project and built an MVP API using Typescript I thought it would be nice to write about my experience hence this article. The…

Bitcoin users can be very private on the Bitcoin network if they diligently adhere to Bitcoin's privacy principles, privacy is one area Bitcoin excels compared to traditional payment systems, on a decentralized, peer to peer, public network like Bitcoin, user privacy is dependent on how the user the interact with…

Bitcoin the first successful decentralized digital currency (cryptocurrency) means different things to different people, many perceive Bitcoin as a way to get rich quick, although some people have made a lot of money from Bitcoin others have also been caught up in the volatility of Bitcoin and end up getting…

Blockchain technology and Bitcoin is one the most talked-about topics in the last decade, no week has passed without news about blockchain, or bitcoin, some news was positive while others were negative but the technology has continued to grow and gained more adoption. …