How to Use Lightning Network in the OneKey App

Introduction to the Lightning Network

The Lightning Network is a scalability solution for Bitcoin that enables fast and low-cost transactions by establishing a network of payment channels. Users can conduct multiple transactions within these channels without the need to record each transaction on the Bitcoin main chain, thus improving efficiency and reducing costs. 

The Lightning Network utilizes smart contracts and multi-signature technology to ensure that both parties in a transaction can receive the correct fund settlement when the channel is closed. These technologies also help prevent fraud and illegal operations, ensuring the security of user funds.

Create a Wallet

1. Open the app and click on "Network."

2. Select "Lightning Network."
Note: Hardware wallets currently do not support the Lightning Network.

3. Click on "Create Account" to complete the account creation process.

Receive Assets

1. Click on "Receive";

2. Enter the amount of sats you are ready to receive, and click "Next";
Note: Sat is the smallest unit of BTC, where 1 BTC = 100,000,000 sat;

3. A one-time-use invoice number (i.e., receiving address) will be generated at this point;

4. Open the withdrawal/transfer interface on another platform, enter the invoice number generated by OneKey in the address/invoice , and click "Withdraw";
Note: The "Swap" feature supports the mutual conversion of funds between the Bitcoin network and the Lightning Network.

5. After receiving the assets, go back to the wallet homepage to view your funds.

Transfer Assets

1. Click on "Send";

2. Enter the invoice number (i.e., the receiving address) and click "Next";
Note: In addition to invoices, OneKey also supports sending messages to Lightning Network addresses and LNURL.

3. After reviewing the transaction details, click "Confirm" to complete the transfer.

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