What is a lightning network? And how will it help in the evolution of the series of blocks?

Blockchain - the general financial record of financial transactions in digital currency - suffers from the problem of scalability.

The problem is about the ability of the network to deal efficiently with the increasing amount of financial operations, as this technology is able to make only seven transactions per second with a capacity of one MB, while the visa can conduct two thousand treatment per second.

To solve this problem, scientists have come up with a new technology to reduce the difficulties of the block chain. This is the "lightning network" technology that has helped to develop the mass chain and respond to the fierce competition demands in the digital currency market.

Second layer of the minting coin
The idea behind the creation of the lightning network is that small daily transactions should not be stored on the network of the main cluster based on decomposition, said Shan Ray in his article published on the American site Hackarnon.

The lightning network is the second layer that relies on the technology of the main block chain, allowing micro-transactions to be made faster, using "off-chain payment channels". Depending on this approach, transactions that are not of major importance or side operations are carried out outside the main chain.

The transactions outside the chain using the lightning network have only two entrances, one to open a special "push channel" between the two, and the other to close. The payment channel is a special tool adopted by two users allowing them to deal with each other outside the chain.

Example of lightning network
In order to better understand the lightning grid, the writer explains the following:

Suppose you buy lunch from the cafeteria itself in the workplace every day. In this case, you should not record these routine daily transactions between you and the cafeteria (which makes you mutually trustworthy) on the main content network. Instead, you and the cafeteria deposit a certain sum of money into the "multi-signature account". This financial transaction is recorded on the main network.

As such, you now have a special channel outside the chain to deal with the cafeteria. Financial transactions can be made from a "multi-signature account" only when the parties enter into an agreement.

If one party wishes to close the payment channel outside the chain, it can do so at any time. All you have to do is submit the most recent balance sheet list signed by both parties and broadcast on the main content network. The private channel is closed by a financial transaction that distributes your own account funds on the main block network.

Effects of the network in the presence of multiple parties
The Lightning Network allows non-chain financial transactions not only between two trusted parties, but also with a network of parties. To further illustrate this process, let's use the example above, and suppose you have two separate channels open out of the chain; a channel between you and the cafeteria, and another between you and a colleague at work.

If your coworker comes with you to lunch, instead of opening his own channel outside the chain, he can transfer money to the cafeteria using your "multiple signatures" account as an intermediary between him and the cafeteria (updating all the appropriate balance sheets during the process).

Thanks to this technique, everyone in this network can buy items from the cafeteria as long as they have a budget in their accounts.

If there are many people with multiple signatory accounts with the cafeteria, in this case the payment will be made from your co-worker (the original party) towards the cafeteria (the receiving party) through the few intermediaries and the lowest fees. Thus, the transaction can be conducted through the associated payment channels.

Extensibility is a major problem facing major networks of the public mass chain. Faced with the competition of EUS, KITIUM, ETHERIUM and other digital currencies, the lightning network is a viable solution to address the problem of scalability by forming a large number of off-series transactions, The main blocks that depend on the synthesis.