How Payment Channels Work on Bitcoin’s Lightning Network

You might be wondering how the lightning Network operates without a blockchain It does this through payment channels Which are essentially multi-signature Contracts between different peers on Lightning each user has their own node And establishes connections with other Node operators Within These nodes Bitcoin is locked in a multi-sig wallet And once secured a two-way payment Channel is created These payment channels are the primary Building block of the lightning Network And enable users to transact using Lightning Bitcoin across the network [Music]

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