How to

5 tutorials to get started with Lightning Network

Key facts:
  • The Lightning Network (LN) enables instant sending and receiving of bitcoins.

  • You can manage your bitcoins, send and receive tips, and even shop on Amazon using LN.

The Lightning Network (LN) is a network of payment channels that seeks to help deliver on two of Bitcoin’s big promises: that its network is scalable, i.e. that it functions perfectly even when users increase exponentially, and that it enables instant exchange of value and is resistant to censorship. If you want to start experiencing this network, you can use the following tutorials to test the potential that the Lightning Network has to offer.

Lightning Wallet is a Lightning Network wallet, which works without a custodian. Although it is not necessary to manage a network node to use it, neither the developers nor the operators of this wallet have control over user funds.

To achieve this independence of users, the wallet mainly uses two elements: the Olympus server, which records a backup copy of all the payment channels that we open in the wallet; and the WatchTower service, which verifies that liability transactions are not propagated without the approval of both payment channel participants.

There is another popular wallet option for using LN. It is about Eclair, which was developed by the French company Acinq. The wallet, in addition to sending and receiving bitcoins to SegWit addresses, also allows you to open payment channels on the Lightning network that require low fees and confirm transactions instantly.

It should be noted that despite the simplicity of its interface, Eclair allows payment only to those users who use full LN nodes. The wallet is available exclusively for Android mobile deviceswith the operating system is Android 5.0 and up.

shop further Amazon con Lightning

After choosing a wallet, we will probably want to test this network by making a purchase. It is possible. In fact, thanks to Bitrefill, we can use the Lightning Network to buy any product found in Amazon’s digital catalog.

Users can purchase Amazon gift cards using Bitrefill services, although it should be noted that these cards will only be valid for Amazon stores in the United States.

The Lightning Network has also been praised for its ability to enable micropayments. This type of operation is extremely attractive for sending and receiving tips online, especially using Twitter.

To use Tippin, users must log into the platform using their Twitter account information. In addition, to facilitate the use of the tool, you can install an extension in your browser. Received funds are accumulated and users have the option to send funds to another LN address.

Shop payment channels with Thor

After we complete the process of storing, shopping on Amazon, and sending and receiving tips in Bitcoin, we can also test the purchase of secure payment channels connected to the Bitrefill node, which allows us to send and receive payments through the Lightning Network.

Thor sells empty payment channels that can be managed from our wallet. Once the payment is made, the channel will be fully operational, ready to receive. To purchase a channel, you must enter the Thor portal, select a payment method, channel features and pay. The tool must be used with a Lightning wallet as channels connected to Bitrefill can only be managed through this wallet.

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