So-called "0conf" transactions (where you just wait for an attempted payment, similar to how VISA works) are relatively instant, and can appear in a matter of seconds. These are ideal for things like physical goods or brick & motar stores.
One of the bigger issues with 0conf transactions is that you cannot spend them until they settle. It is possible to ...
You can register using the command:
lns_buy_mapping namehere 0000...1111
You link the name to a session chat id or a loki address.
To check if you own it do:
Cost is currently 20 loki.