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Author Topic: How can lightning network help Bitcoin?  (Read 198 times)
btc78
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September 23, 2018, 09:55:16 AM
 #41

What makes Lightning Network an innovation to help Bitcoin?

With Lightning Network, All Bitcoin transactions will be executed quickly and efficiently. In addition, transaction fees are also significantly reduced. That's what I heard about it. However, until now, everything have not changed!

Lightning network will also make many transaction at the same time,congestion will be gone and so as the trafficking of transactions.thats why with LN everything in bitcoin will be resolve and this will compete all the small transacting sites now.this is what i have learnt about lightning network
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September 23, 2018, 01:30:18 PM
 #42

What makes Lightning Network an innovation to help Bitcoin?

Bitcoin have a long block time, it is hard if you want to transfer your coin with short time because you will have to wait the confirmation block.
Lightning network purpose is to speed up the transaction time i think, like the name, the process will be fast as lightning.

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September 24, 2018, 09:52:04 AM
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Just lifting the block size is a simple and elegant solution that can avoid a controversial hardfork, while allowing thousands or tens of thousands of people to gain access to their funds in a timely manner. I think the low rate would be very good ayudsria bitcoin is used more because they are therefore to make millions of transactions per block at the same time and its comfirmacion will be in minutes and even seconds from pole to more economical.
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September 24, 2018, 10:36:55 AM
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Apart from essential solving the scaling and fee problem, lightning also makes it possible for users to transact in Bitcoin offline, ensuring that smaller merchants and those in less economically developed countries have access to the technology. It also massively incentivizes merchants,  retailers and corporations to get involved as the barrier to entry is now much lower.


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