Lightning Network Implemented in El Salvador

[Suba]

It has been more than two years since El Salvador adopted Bitcoin as legal tender, so that Bitcoin is considered a substitute for fiat money (USD). Currently, the El Salvador government is implementing the Lightning Network as the basis for a very cheap and fast Bitcoin transaction network. The government also recommends that people use the Strike wallet and Bitcoin Beach wallet. Using the Lightning Network as a layer 2 blockchain, it can easily be used as a transaction medium for either selling or buying goods. It can also be used to send money abroad at a cheaper cost if we compare it to Western Union.

 

[saoussen5765]

Does it mean that El Selvador has his own cryptocurrency that citizens could use if I understand what you are trying to say or not this?

 

[Suba]

Does it mean that El Selvador has his own cryptocurrency that citizens could use if I understand what you are trying to say or not this?

That's not what I mean, El Salvaldor doesn't have its own cryptocurrency, but they use Bitcoin, while for Bitcoin transactions a layer 2 blockchain is used which we know as the lightning network. We can also use the Bitcoin lightning network easily and quickly.

 

[riberet19]

It's great that Ligntning network is finally starting to expand, El Salvador is still a pioneer in the Bitcoiner country and I have been very surprised that they have already implemented LN in their country, I hope people use it

 

[Suba]

Even though the Lightning Network promises transaction speed and low fees, until now I have not used the Lightning Network to make Bitcoin transactions, because until now I have not found an earning site that gives Bitcoin rewards using LN.

 

[riberet19]

Even though the Lightning Network promises transaction speed and low fees, until now I have not used the Lightning Network to make Bitcoin transactions, because until now I have not found an earning site that gives Bitcoin rewards using LN.

I know of only two, one is Slice, which is a browser extension that pays you in the Lightning network and the other is Fountain. fm, which is a podcast creation and listening site that pays users and content creators via the Lightning Network.

 

[Suba]

I know of only two, one is Slice, which is a browser extension that pays you in the Lightning network and the other is Fountain. fm, which is a podcast creation and listening site that pays users and content creators via the Lightning Network.

Thanks for your information, I've also heard of the Slice extension, but according to the news I read, the reward from Slice is very small. Even though Slice is only an extension, it also allows reading every financial transaction I make in the browser, so I don't think it's that convenient.

 

[riberet19]

Thanks for your information, I've also heard of the Slice extension, but according to the news I read, the reward from Slice is very small. Even though Slice is only an extension, it also allows reading every financial transaction I make in the browser, so I don't think it's that convenient.

In fact, you don't earn much there, maybe $2 or $3 a month in Bitcoin as long as you don't have referrals, but hey, at least they are using the Lightning Network payment method, I hope its use continues to grow in the future.