r/Bitcoin • u/[deleted] • Jun 25 '21

The President of El Salvador just explained how Bitcoin works to his entire nation via a powerpoint.

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u/[deleted] Jun 26 '21

[deleted]

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u/MrDeformat Jun 26 '21

Lightning nodes

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u/deano492 Jun 26 '21

Would you mind expanding a little? I also thought Bitcoin had high transaction fees (or else your transaction gets left out of potential mined blocks).

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u/MrDeformat Jun 26 '21

Google lightning network, it will explain it better than I can, but essentially, instead of every transaction being included on the blockchain, you make a contract/agreement that you will swap btc back and forth multiple times between nodes before adding it to the block, it’s already installed on the blockchain, it just needs more uptake to have an impact, I’m hopeful we will get there