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Title: Lightning network Post by: traderperspective on December 12, 2017, 05:37:51 PM Can somebody elaborate on what the lightning network is, what it includes etc? Thank you!!
Title: Re: Lightning network Post by: Imfinnabeon on December 12, 2017, 06:58:45 PM I don't know much all I know is the jist and that is it is supposed to speed up the network and enable transactions to happen at a much faster rate. This is what will likely be added to bitcoin and other cryptocurrencies soon and will be the norm soon because people don't want to and shouldn't have to wait for hours before getting their cryptos confirmed. Detailed breakdown at Bitcoin Wiki https://en.bitcoin.it/wiki/Lightning_Network
Title: Re: Lightning network Post by: deadsilent on December 12, 2017, 10:54:59 PM It's a network use an off-chain protocol that is proposed to Bitcoin to solve it's scalability problem.Lightning Network aims to improve the process of Bitcoin transactions. Lightning Network can make transactions instant and low cost transactions. Lightning is a decentralized network using smart contract functionality in the blockchain to enable instant payments across a network of participants.
Lightning Network is still under testing and still under development. I hope Lightning Network will soon be implemented. Bitcoin transactions are getting more harder to confirm. Also makes the transaction fees very high. Normal fee could cost you $20-25. |