The excitement surrounding Bitcoin (BTC) is growing as the Halving Event draws near, and the Lightning Network is helping small-scale miners greatly.

Let them use this lParticularly, Bitcoin miners have been closely monitoring the potential effects of this year's halving on their operations.

For example, miner efficiency has grown more crucial as the halving reduces mining incentives.

Large-scale miners have therefore been looking for energy-efficient methods of conducting business.

Small-scale miners will also be impacted by the halving. The CEO and co-founder of Amboss, Jesse Shrader, told Cryptonews that the halving will result in fewer Bitcoins being sent to mining pools.

Increasing transaction fees, Shrader continued, will present new difficulties.

Payouts to miners will only be made possible by third-party mining pools raising the cost of transactions," Shrader remarked.

This implies that in order to get paid, all miners taking part in pools will probably need to reach at least.1 BTC.

Lightning Network Supports Miners on a Small Scale

According to Shrader, miners who back the Lightning Network (LN) can overcome the aforementioned difficulties.

A layer-2 solution for the Bitcoin blockchain is called the LN. By utilising payment channels, it permits peer-to-peer transactions between two parties that are not part of the pricey main Bitcoin network.

Transacting parties can send an infinite number of very instantaneous transactions over LN channels once they are established, and these transactions are also far less expensive than those conducted on the Bitcoin network.

In order to create a reusable payment infrastructure, mining pools must employ LN for payouts rather than having several, distinct transactions for payouts, according to Shrader.

Although LN was first introduced in 2018 and is mostly utilised by enthusiasts, Shrader observed that companies are making more use of the network.

"Amboss serves as a platform for discoverability for The Lightning Network, assisting in the establishment of the necessary peer-to-peer channels," he stated. "We've also been using LN for data analytics, and we've seen a shift in the customer base towards businesses."

Small-Scale Miners Include Pre-Halving Support For Lighting Networks

In fact, using LN for rewards makes sense for small-scale mining pools.

According to Shrader, "NiceHash, for instance, has already been using LN for this."