What is bitcoin lightning network

[magnus2022]

Cryptocurrency is very verse and complex. When you thought you have arrived, you will start seeing and hearing about new terminologies! Today, i come across a new word called bitcoin lightning network. Though, i have googled and the answer seems more confusing. I could not be able to digest and understand all the tech words very well.
Can someone give a simple and concise meaning of bitcoin lightning network and how to use it?

 

[Suba]

Coincidentally, I have a blog that discusses the Bitcoin lightning network, so I understand a little about this. Bitcoin lightning network is a Bitcoin transaction protocol carried out on the second layer blockchain so that transaction fees are faster and cheaper. So if you use the lightning network to send Bitcoin, the recipient must also use the lightning network or a similar wallet, there are many types of lightning networks on mobile apps, or if you use a crypto exchange such as Kraken, Binance or others, it also allows you to create a lightning wallet, then You only need to transfer Bitcoin to your Lightning Wallet account and it's ready to use.

 

[gwolf666]

The Bitcoin Lightning Network is a technology that enables fast and cheap payments outside the main Bitcoin chain, using special channels between users. This makes transactions almost instantaneous and with very low fees, ideal for small, frequent payments.

It works by opening a channel between two people where Bitcoin can be transferred multiple times without recording each one on the blockchain, simply by opening and closing the channel, ensuring security and efficiency.