Title: Bitcoin lightning network Post by: Lucacrebbe on January 08, 2018, 09:14:40 PM Can someone explain please what is this lightening network, and when will it be implemented?
When willl be lightening network implemented to bitcoin? I still don't understand what this lightning network does... If it will be implemented lightning network to bitcoin, will bitcoin became scalable and will there be cross chain transactions between differents blockchains? Exemple: (bitcoin---> to Monero) When and if this will happen the price of bitcoin will skyrocket, better to accumulate now that is at the dip Title: Re: Bitcoin lightning network Post by: Lucacrebbe on January 09, 2018, 12:36:31 AM can someone explain?
Title: Re: Bitcoin lightning network Post by: aintnopassincraze on January 09, 2018, 12:51:55 AM Cross chain swaps are called atomic swaps that is completely different than Lightning Network. LN is a way to make the system a tad bit more centralized in order so the transaction time and fees will get drastically reduced. I am not sure to what degree but I would imagine transaction would be under $1.00 again and the speed is almost instantaneous if not so.
Title: Re: Bitcoin lightning network Post by: Tristan1337 on January 09, 2018, 01:47:14 AM Can someone explain please what is this lightening network, and when will it be implemented? When willl be lightening network implemented to bitcoin? I still don't understand what this lightning network does... If it will be implemented lightning network to bitcoin, will bitcoin became scalable and will there be cross chain transactions between differents blockchains? Exemple: (bitcoin---> to Monero) When and if this will happen the price of bitcoin will skyrocket, better to accumulate now that is at the dip If you want to know what lightning network is, well just check this long detailed video out on youtube. ;) https://www.youtube.com/watch?v=8zVzw912wPo (https://www.youtube.com/watch?v=8zVzw912wPo) Enjoy! ;D Title: Re: Bitcoin lightning network Post by: wagi on January 09, 2018, 02:04:03 AM I dont really know what the lightning network really is.
But as i know and i get informatoin about lightning network, it is more about to fix high fee and slow transaction that bitcoin has. If it is applied in bitcoin so i have no doubt that bitcoin will skyrocket again. Title: Re: Bitcoin lightning network Post by: Memenya on January 09, 2018, 02:14:29 AM If you want to know what lightning network is, well just check this long detailed video out on youtube. ;) https://www.youtube.com/watch?v=8zVzw912wPo (https://www.youtube.com/watch?v=8zVzw912wPo) Enjoy! ;D Thanks for sharing the video. I think i need to watch it too as my knowledge about lightning network is limited. But as i know, lightning network purpose is to make the fee become lowest possible or maybe zero. Title: Re: Bitcoin lightning network Post by: realknow on January 09, 2018, 04:01:46 AM I dont really know what the lightning network really is. I agree with you - hopefully the bitcoin exchange rate will bolt like lightning, and give many advantages to the loyal bounty hanter.But as i know and i get informatoin about lightning network, it is more about to fix high fee and slow transaction that bitcoin has. If it is applied in bitcoin so i have no doubt that bitcoin will skyrocket again. Title: Re: Bitcoin lightning network Post by: mondeo.96 on February 08, 2019, 11:12:29 AM I dont really know what the lightning network really is. I agree with you - hopefully the bitcoin exchange rate will bolt like lightning, and give many advantages to the loyal bounty hanter.But as i know and i get informatoin about lightning network, it is more about to fix high fee and slow transaction that bitcoin has. If it is applied in bitcoin so i have no doubt that bitcoin will skyrocket again. Here for example GoodLN_BTC ( https://1ml.com/node/03369be10d4a62551fc13dbc15c2c586104482814315f7becfa5cd7499a3e69e9d ) and saytik riveted, certainly will develop and what to do now to "anyhow" (http://goodln.com/) can quickly turn into a large-scale projects (for example LNBIG.com) https://a.radikal.ru/a11/1902/6d/e16fc6faa05a.png Domain information Domain Name: GOODLN.COM Country: Ukraine and the owner is hidden (It means that they paid extra for protection not to publish your full name). Code: IP 193.169.189.208 Personally, I fundamentally support beginners ... P.S.> goodln - Altruists of ;D once again pay hike for a domain and a server ... I connect to such start-up projects, because in time they will become "fat" ;) Title: Re: Bitcoin lightning network Post by: sunsilk on February 08, 2019, 11:22:10 AM In layman's term lightning network will provide faster but cheaper transactions for bitcoin.
And for an example of this kind of transaction, you may refer to this: Quick Brew? Bitfury’s Coffee Machine Accepts Bitcoin Via Lightning Network (https://www.coindesk.com/quick-brew-bitfurys-coffee-machine-accepts-bitcoin-via-lightning-network). For an example video: Bitcoin Lightning Network so FAST! (https://www.youtube.com/watch?v=48uSd4eQfZs) Title: Re: Bitcoin lightning network Post by: ophyrim on February 08, 2019, 11:51:20 AM can someone explain? The future of bitcoin. The solution of scalability problem. You are going to transfer BTC cheaper and also faster. This is very important if BTC will adapt to the real world. Title: Re: Bitcoin lightning network Post by: mondeo.96 on February 08, 2019, 12:19:04 PM The future of bitcoin. The solution of scalability problem. You are going to transfer BTC cheaper and also faster. This is very important if BTC will adapt to the real world. I see that many are starting to build large networks. Thanks to startups like GoodLN_BTC ( https://1ml.com/node/03369be10d4a62551fc13dbc15c2c586104482814315f7becfa5cd7499a3e69e9d ), I'm sure everything will be fine. We just need all of us to support them !!! I urge everyone to start using! Get connected. Let's develop technology together !!! Title: Re: Bitcoin lightning network Post by: ssuchy on February 08, 2019, 06:40:48 PM can someone explain? The future of bitcoin. The solution of scalability problem. You are going to transfer BTC cheaper and also faster. This is very important if BTC will adapt to the real world. Title: Re: Bitcoin lightning network Post by: cryptomaster420 on February 09, 2019, 12:12:11 AM Can someone explain please what is this lightening network, and when will it be implemented? There's no good ELI5 answer. If you don't know how bitcoin's first layer works - read up on it first, then read up on state channels, and finally then you'll get a grasp.When willl be lightening network implemented to bitcoin? I still don't understand what this lightning network does... If it will be implemented lightning network to bitcoin, will bitcoin became scalable and will there be cross chain transactions between differents blockchains? Exemple: (bitcoin---> to Monero) When and if this will happen the price of bitcoin will skyrocket, better to accumulate now that is at the dip LN is a "hack" that gives you relative safety while exchanging bitcoins while not writing transactions on the blockchain. It requires you to dedicate funds to open a channel, and to find liquid enough channels all the way until you reach your recepient. It has very high failure rates, it's nowhere near user friendly enough and was supposed to be finished by now, which is why you'll read a lot of hate towards it. I don't hate LN itself, just the fact that the first layer was not bumped to 2MB until this actual project is any good. It's progressing well and gaining adoption but we lost time and adoption in the process, which we wouldn't have lost with 2MB blocks until LN has reached an useable state. |