Lightning Network aims to solve this problem by developing a technology that runs on top of the Bitcoin blockchain allowing almost instantaneous transactions with fees of less than one penny.
Despite being a technology attacked by some members of the community (especially by users of Bitcoin Cash and its fork Bitcoin SV), the lightning network has a substantial number of advocates who are optimistic about the contribution that this development can have for the future of cryptocurrencies once it is fully functional.
How Good is Lightning Network in Real Life?
One of these supporters is Anthony Pompliano, Founder and Partner at Morgan Creek Digital. In one of his tweets, he published an open invitation to prove how efficient LN transactions were versus payments using traditional technologies.
The Lightning Network is so fast.
I wouldn’t be surprised if transactions go from wallet to wallet faster than the time it takes for a credit card machine to process the chip on a card that gets inserted.
Someone should run a test to time it and record the whole thing on video.