- This map illustrates all of the companies working on Bitcoin’s Lightning Network
- Lightning Network is a second-layer scaling solution that intends to make Bitcoin practical for small payments
- Though still in development, several companies are attempting to bring it to the mainstream
The Lightning Network is a second-layer scaling solution built on top of Bitcoin. The Lightning Network was first proposed in February of 2015 by Joseph Poon and Thaddeus Dryja. It’s a decentralized system in which transactions are sent over a network of micropayment channels whose transfer of value occurs off-chain. Through the channels users can send multiple payments back and forth, the final balances are recorded as one transaction on Bitcoin’s blockchain once users decide to close out the channel.