Bitcoin's Layer 2: How the Lightning Network Scales the Future
Critics often say: "Bitcoin is too slow. It can only do 7 transactions per second. Visa does 24,000."
They are right about the base layer, but they are wrong about the ecosystem. Bitcoin is the settlement layer (like a central bank vault). For buying coffee, we have Lightning.
What is Lightning?
The Lightning Network is a "Layer 2" protocol built on top of Bitcoin. It allows users to open payment channels between each other.
- Instant: Transactions happen in milliseconds.
- Cheap: Fees are often a fraction of a cent (1 Satoshi).
- Private: Transactions happen off-chain and are not permanently recorded on the public blockchain until the channel closes.
The Bar Tab Analogy
Think of it like a bar tab. You don't swipe your credit card for every single sip of beer (that would be slow and expensive). You open a tab, order 10 drinks instantly, and then settle the final bill once at the end of the night.
Lightning is the bar tab. The Bitcoin Blockchain is the final settlement.
What Does This Mean for Miners?
Miners secure the base layer. Without miners, the Lightning Network cannot exist because there would be no secure way to open or close channels.
As Lightning grows, Bitcoin becomes a global currency. This increases the value of the BTC you are mining today.
We are building the financial rails for the future. Every block you mine on Gokby secures trillions of dollars in future Lightning transactions.
