The blockchain, which is a new technology, continues to be one of the most widely discussed topics today and is now at the top of the list of controversial technologies. It has certain remote people with an approach to actualize and implement its concepts. There are some institutions that have begun to physically implement it. There are a lot of people who believe in it, which is the largest potential of this technology. Through it, it can change the methods of working in many fields, especially its financial transactions. Already the individuals and companies have relied upon the intermediaries both Banks and governments by ensuring their financial transactions or by ensuring their trust and certainty of value in them.
Trust is built upon it as a result of all production of digital assets, which requires an increase in the middleman while performing digital transactions. Chain block, which is a way to do this on a third party without any digital transaction. We will know in this article when to see the blockchain technology? How does this technique perform its function?
This blockchain technology which maintains public financial records of all these digital currency financial operations. Scalability suffers a lot of problems. Its problem is the network that rotates around its capacity to deal efficiently with an increasing, financial process. This technology, which is capable of performing seven transactions per second through the capacity of one Megabyte, is capable of making more than two thousand transactions per second. Bitcoin bankers who help it play a key role when they connect with a bank account. If you want to invest in bitcoins you can visit market master.
To solve all its problems, some scientists have made a beginning with modern technology, represented in the technology of a “lighting network”, contributing to the development of the blockchain and responding to all the requirements of the heavy competition in the crypto market. It provides a confirmation after the correctness of all transactions to obtain green lights, its storage vendor, and the buyer, who has included this digital signature and amount.
You have the off-chain channel to handle this cafeteria now. All financial transactions can only be done through a “multi-signature account” and this can only happen if a party entered into an agreement with you to do so. This private channel is closed through its financial transactions, which disbursed your account funds to some of the main blockchain networks. It has the effect of lighting networks of the very presence of parties, which is to make all its processes clear in it.
Bitcoin Second layer:
Author Shan Rae, who reported in a published article on the American “London’s website, says the idea behind building an electric network, on a small scale, all the daily transactions that rely on bitcoin are a few major blockchains that cannot be stored on its network at all.
In this, the author stated that it consists of only two entries in the series of transactions outside the network that is used for the lightning network. First of all, opening and closing a particular “payment channel” between two parties. The pay channel, which is adopted by the users as well as includes one specific method that allows you to deal with everyone outside the chain.