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Author Topic: LN & Segwit : Influence, influence and who will rule in the future  (Read 58 times)
hugeblack
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February 22, 2018, 11:47:07 PM
Last edit: May 13, 2019, 09:03:45 PM by hugeblack
Merited by aintnopassincraze (1)
 #1

Lightning Network (LN) and Segwit are separate protocols.

Lightning Network utilizes time lock contracts inside of multisig wallets to allow multiple tx's for 1 tx fee.

Segwit fixes a tiny bug called "transaction malleability" and unintentionally increased the # of tx's a bitcoin block could load into it as well.[1]


Do you think the Segwit protocol is it enough to ensure cheap transactions in the future?Or do we need more "LN"?
we notice how the mempool is completely empty after using the Segwit, So how  it will be after apply LN?
Do you think the Segwit transactions will be deactivated in the future?

Source:#1 https://www.reddit.com/r/BitcoinBeginners/comments/7z2qu8/are_segwit_and_lightning_mutually_exclusive_or/

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aintnopassincraze
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February 22, 2018, 11:53:37 PM
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I will try my best but my knowledge is limited on the matter. As far as I understand it Segwit and LN will be on two different chains and unless Segwit is always in every transaction regardless of LN or not which I don't know. However, when LN gets activated I believe that the mempool will be next to always empty, not right away but once adoption picks up like Segwit taking 6 months. Lastly, I am not sure about if they will be deactivated or not that is beyond my understanding on this matter, but would be curious to read more developed opinions Smiley

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February 23, 2018, 12:30:55 AM
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I think segwit is a prerequisite to make LN a success. Maybe it's like this: segwit was made for like person to person, person to exchange or person to service, something which involved a single transaction. While LN covers wider range like an exchange sending to all traders that makes a withdrawal request, like a company that will send salaries to employees. So they are both needed and neither segwit nor LN be deactivated in the future.

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February 23, 2018, 12:50:13 AM
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I think segwit is a prerequisite to make LN a success. Maybe it's like this: segwit was made for like person to person, person to exchange or person to service, something which involved a single transaction. While LN covers wider range like an exchange sending to all traders that makes a withdrawal request, like a company that will send salaries to employees. So they are both needed and neither segwit nor LN be deactivated in the future.

Are you able to elaborate on why you think segwit is a prerequisite for LN success? Is that because it will limit the cost of the required transaction to open the channel for the LN? Is it because they both offer different solutions and will work well in tandem, covering both single and multiple transactions between sources?

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February 23, 2018, 03:55:10 AM
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I think segwit is a prerequisite to make LN a success. Maybe it's like this: segwit was made for like person to person, person to exchange or person to service, something which involved a single transaction. While LN covers wider range like an exchange sending to all traders that makes a withdrawal request, like a company that will send salaries to employees. So they are both needed and neither segwit nor LN be deactivated in the future.

Are you able to elaborate on why you think segwit is a prerequisite for LN success? Is that because it will limit the cost of the required transaction to open the channel for the LN? Is it because they both offer different solutions and will work well in tandem, covering both single and multiple transactions between sources?

Think of it like in a country. If you plan something big you must start small. Solve these small problems first and little by little it'll be a lot easier to solve the major problems. I'm very sorry if I can't explain it so well. Maybe I'm stupid.

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