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Title: Understanding Lightning Network using an Abacus Post by: kingonly on March 25, 2018, 08:30:48 PM https://medium.com/@kingonly/understanding-lightning-network-using-an-abacus-daad8dc4cf4b
I’ve received a lot of positive feedback following my previous article, Lighting Network is the Future of Bitcoin (https://medium.com/@kingonly/the-future-of-bitcoin-3187aefe2746). However, while reading some of the feedback, it became clear to me that some people don’t fully understand how Lightning Network (LN) actually works. In this article, I tried to demystify the concept behind LN and its payment channels using an abacus as a metaphor, without getting into the technical specifics of LN implementation. Title: Re: Understanding Lightning Network using an Abacus Post by: bitart on March 27, 2018, 08:34:21 PM https://medium.com/@kingonly/understanding-lightning-network-using-an-abacus-daad8dc4cf4b I’ve received a lot of positive feedback following my previous article, Lighting Network is the Future of Bitcoin (https://medium.com/@kingonly/the-future-of-bitcoin-3187aefe2746). However, while reading some of the feedback, it became clear to me that some people don’t fully understand how Lightning Network (LN) actually works. In this article, I tried to demystify the concept behind LN and its payment channels using an abacus as a metaphor, without getting into the technical specifics of LN implementation. Good idea to use that abacus to demonstrate the Lightning Network to the people. I think the hardest part of the LN model for most of the people is to understand that they don't need to open/close a channel each time they want to transact, if the channel is used in both directions. The concept of the Lightning network is ready for years now but people still don't have a clue about the whole thing, they are only waiting for it, because they think it will solve all problems of bitcoin. Education is really needed... |