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Lightning Network

Cowa is taking another step into the future by actively being part of the Lightning Network. We believe that instant micro-payments is the key in Bitcoin mass adoption.

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What is Lightning Network

Lightning Network is a scalable Layer 2 network that aims to tackle the bottlenecks of Bitcoin network and bring Bitcoin payments into everyday lives.

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Real numbers

  • 73 715 Unique channels
  • 17 000 Number of nodes
  • 3100 BTC Network capacity

Lightning Network benefits

  • Instant payments

    High network throughput allows almost instant Bitcoin transfers

  • Enhanced privacy

    Details of individual transactions 
are not recorded on Bitcoin network

  • Low fees

    Transaction fees are almost 
non-existent on Lightning Network

  • Scalability

    New paricipants can easily join the network and contribute by setting up a node

How it works

Step I

Funding transactions

Both parties set up a multi-sig wallet on Bitcoin network to send funds over Lightning Network

Step II

Commitment transactions

Once funds are deposited, a channel is opened for making off-chain transactions

Step III

Balance sheet updates

Once a commitment transaction is made, the off-chain balance sheet is updated with new balances of both parties

Step IV

Redemption of funds

To redeem the funds, channel is closed and funds are released to the parties according to the balance sheet

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