Lightning Network - Thoughts?

[TravelMug]

Guess I need to do some research on Lightning, as this post above is pretty damn interesting.

I've seen a lot of hate on Lightning as of lately, but this seems like a cool implementation idea. Thanks for posting.

Who is hating Lightning Network? when we can save a lot of transaction fees although it has some limitations. But it could really help in a way, specially if we go on another parabolic run choking the network.

So if you wanted to pay someone, you can take advantage of LN, open a channel so that the other party can issue the payment without adding congestion to the network, p2p, off-chain transaction.

There's been a lot of hate and criticism around it's security on Reddit. This is another setup though, masternodes will handle everything, so the actual users wont need to have any technical knowledge on Lightning in order to trade, let alone send/recieve coins over the Lightning Network

Are you talking about the supposedly lost funds? It was his fault, he didn't understand how LN works. And just like any other cryptos out there, if you lack knowledge and something wrong went in your way, don't blame the system.

https://www.reddit.com/r/Bitcoin/comments/dnffim/did_the_guy_who_claimed_to_lose_4_btc_on_the/

I wouldn't say that you need to be technical here, but you should at least learn the basics because we all know that transactions here are irreversible.

[Wh00re]

Seen a lot of people argue that DEX's are bad for 2 obvious reasons:


1) Speed of trading
2) Liquidity/volume

Stakenet solves both of these problems with their Lightning Network compatible DEX, which is an integrated part of their multi currency wallet. Off-chain trading is instant, which solves the speed issue.
Next issue is liquidity, which is solves by integrating a "DEX Aggregator", which basically combines other DEX orderbooks into Stakenet's, adding TONS of liquidity, with USDT adding Lightning soon, you'll be able to scalp BTC profits instantly while on the "go", since this will be available as a phone app as well.

It still leaves much to be desired in my opinion. The issue of speed seems to be taken care of but whatever about liquidity? Not so sure. This is why centralized exchanges have always been ahead of decentralized exchanges.  Orderbooks in DeXs are usually thin. I hope stakeNet solves this soon. Kudos to the StakeNet team. They seem to be the only ones concerned about the future of decentralized exchanges.

Liquidity is solved with Stakenet's "DEX Aggregator" which combines multiple DEX order books from other DEX's together in ONE. This means they'll be accessiable through their API, meaning TONS of liquidity will be available here, benefitting all DEX's around us today, since you could trade with someone from the BISQ DEX without even knowing it, makes sense?

These guys thought of everything... Literally.

[nelson4lov]

Seen a lot of people argue that DEX's are bad for 2 obvious reasons:


1) Speed of trading
2) Liquidity/volume

Stakenet solves both of these problems with their Lightning Network compatible DEX, which is an integrated part of their multi currency wallet. Off-chain trading is instant, which solves the speed issue.
Next issue is liquidity, which is solves by integrating a "DEX Aggregator", which basically combines other DEX orderbooks into Stakenet's, adding TONS of liquidity, with USDT adding Lightning soon, you'll be able to scalp BTC profits instantly while on the "go", since this will be available as a phone app as well.

It still leaves much to be desired in my opinion. The issue of speed seems to be taken care of but whatever about liquidity? Not so sure. This is why centralized exchanges have always been ahead of decentralized exchanges.  Orderbooks in DeXs are usually thin. I hope stakeNet solves this soon. Kudos to the StakeNet team. They seem to be the only ones concerned about the future of decentralized exchanges.

Liquidity is solved with Stakenet's "DEX Aggregator" which combines multiple DEX order books from other DEX's together in ONE. This means they'll be accessiable through their API, meaning TONS of liquidity will be available here, benefitting all DEX's around us today, since you could trade with someone from the BISQ DEX without even knowing it, makes sense?

These guys thought of everything... Literally.

Yes, Its true that Stakenet would add the Dex aggregator feature sometime in the future (according to the stakenet roadmap). While I'm aware of this, I didn't consider it in my reply as it's still an upcoming feature in the roadmap and we can't say if it'll solve the problem of liquidity and volume that the status quo DEXs are currently experiencing. Uniswap and Kyber  partnered together in 2019 to pool liquidity. Until then, I'd be keeping an eye on stakeNet's roadmap for DEXs aggregator release.

[GucciBoy]

Seen a lot of people argue that DEX's are bad for 2 obvious reasons:


1) Speed of trading
2) Liquidity/volume

Stakenet solves both of these problems with their Lightning Network compatible DEX, which is an integrated part of their multi currency wallet. Off-chain trading is instant, which solves the speed issue.
Next issue is liquidity, which is solves by integrating a "DEX Aggregator", which basically combines other DEX orderbooks into Stakenet's, adding TONS of liquidity, with USDT adding Lightning soon, you'll be able to scalp BTC profits instantly while on the "go", since this will be available as a phone app as well.

It still leaves much to be desired in my opinion. The issue of speed seems to be taken care of but whatever about liquidity? Not so sure. This is why centralized exchanges have always been ahead of decentralized exchanges.  Orderbooks in DeXs are usually thin. I hope stakeNet solves this soon. Kudos to the StakeNet team. They seem to be the only ones concerned about the future of decentralized exchanges.

Liquidity is solved with Stakenet's "DEX Aggregator" which combines multiple DEX order books from other DEX's together in ONE. This means they'll be accessiable through their API, meaning TONS of liquidity will be available here, benefitting all DEX's around us today, since you could trade with someone from the BISQ DEX without even knowing it, makes sense?

These guys thought of everything... Literally.

Yes, Its true that Stakenet would add the Dex aggregator feature sometime in the future (according to the stakenet roadmap). While I'm aware of this, I didn't consider it in my reply as it's still an upcoming feature in the roadmap and we can't say if it'll solve the problem of liquidity and volume that the status quo DEXs are currently experiencing. Uniswap and Kyber  partnered together in 2019 to pool liquidity. Until then, I'd be keeping an eye on stakeNet's roadmap for DEXs aggregator release.

As far as I know, it shouldn't really take that long to develop. They need their priorities straight when working on this project, so I'm sure once they've released the DEX, the Aggregator will be implemented shortly after.
Right now they are working on integrating ETH, and it's tokens to the platform, along with trading bots etc.

[nelson4lov]

Right now they are working on integrating ETH, and it's tokens to the platform, along with trading bots etc.

Yes. Like I said yesterday, it's too early to conclude that stakenet DEX aggregator will solve the problem with status quo DEX.

As far as I know, it shouldn't really take that long to develop. They need their priorities straight when working on this project, so I'm sure once they've released the DEX, the Aggregator will be implemented shortly after.

It's not that easy. If I remember correctly, StakeNet has about 10 or more features/products that they're are currently working on. After the DEX release, It'll still take a while to get the DEX aggregator up and running as series of testing has to be made to ensure that the software work as it should.

[Flux0z]

Right now they are working on integrating ETH, and it's tokens to the platform, along with trading bots etc.

Yes. Like I said yesterday, it's too early to conclude that stakenet DEX aggregator will solve the problem with status quo DEX.

As far as I know, it shouldn't really take that long to develop. They need their priorities straight when working on this project, so I'm sure once they've released the DEX, the Aggregator will be implemented shortly after.

It's not that easy. If I remember correctly, StakeNet has about 10 or more features/products that they're are currently working on. After the DEX release, It'll still take a while to get the DEX aggregator up and running as series of testing has to be made to ensure that the software work as it should.

Nothing is built/coded instantly, and while I do understand your "concerns", it's really not that big of a deal considering how slow other projects are with developments. I'm actually impressed with the speed of development on this project. There are like 40+ devs on this project as far as I know, so they are progressing pretty damn fast.

[Marckolind]

Seen a lot of people argue that DEX's are bad for 2 obvious reasons:


1) Speed of trading
2) Liquidity/volume

Stakenet solves both of these problems with their Lightning Network compatible DEX, which is an integrated part of their multi currency wallet. Off-chain trading is instant, which solves the speed issue.
Next issue is liquidity, which is solves by integrating a "DEX Aggregator", which basically combines other DEX orderbooks into Stakenet's, adding TONS of liquidity, with USDT adding Lightning soon, you'll be able to scalp BTC profits instantly while on the "go", since this will be available as a phone app as well.

It still leaves much to be desired in my opinion. The issue of speed seems to be taken care of but whatever about liquidity? Not so sure. This is why centralized exchanges have always been ahead of decentralized exchanges.  Orderbooks in DeXs are usually thin. I hope stakeNet solves this soon. Kudos to the StakeNet team. They seem to be the only ones concerned about the future of decentralized exchanges.

Liquidity is solved with Stakenet's "DEX Aggregator" which combines multiple DEX order books from other DEX's together in ONE. This means they'll be accessiable through their API, meaning TONS of liquidity will be available here, benefitting all DEX's around us today, since you could trade with someone from the BISQ DEX without even knowing it, makes sense?

These guys thought of everything... Literally.

Yes, Its true that Stakenet would add the Dex aggregator feature sometime in the future (according to the stakenet roadmap). While I'm aware of this, I didn't consider it in my reply as it's still an upcoming feature in the roadmap and we can't say if it'll solve the problem of liquidity and volume that the status quo DEXs are currently experiencing. Uniswap and Kyber  partnered together in 2019 to pool liquidity. Until then, I'd be keeping an eye on stakeNet's roadmap for DEXs aggregator release.

I honestly don't even worry so much about the Aggregator implementation, since it seems like an "easy" thing to do, since it's based on API's and not so much custom coding, but who do I know, lol.. I'm not a coder

[suryapro]

actually this is a problem of the work system. where all use work methods that aim to provide good service to users. but if it reduces the working power of speed, of course this is a new problem

[Wh00re]

actually this is a problem of the work system. where all use work methods that aim to provide good service to users. but if it reduces the working power of speed, of course this is a new problem

Not sure what you're trying to say here.
The Lightning Network doesn't have much incentive to run on BTC itself due to the low rewards for hosting a node, it's completely different when you host a node on an already existent profitable masternode though, which also makes the whole thing decentralized

[nelson4lov]

Right now they are working on integrating ETH, and it's tokens to the platform, along with trading bots etc.

Yes. Like I said yesterday, it's too early to conclude that stakenet DEX aggregator will solve the problem with status quo DEX.

As far as I know, it shouldn't really take that long to develop. They need their priorities straight when working on this project, so I'm sure once they've released the DEX, the Aggregator will be implemented shortly after.

It's not that easy. If I remember correctly, StakeNet has about 10 or more features/products that they're are currently working on. After the DEX release, It'll still take a while to get the DEX aggregator up and running as series of testing has to be made to ensure that the software work as it should.

Nothing is built/coded instantly, and while I do understand your "concerns", it's really not that big of a deal considering how slow other projects are with developments. I'm actually impressed with the speed of development on this project. There are like 40+ devs on this project as far as I know, so they are progressing pretty damn fast.

I think you may have misunderstood me. I didn't in any way mean that the features I mentioned in my last post could be developed (coded) instantly. The point I was trying to drive home was that, implementing features like this does take time. It's a financial application and at such, there's more to just creating the platform. They also have to perform series of tests to ensure that users have a secured and seamless experience while using the platform.

I for one follow the Stakenet team progress on github to see their progress. So far, I've been impressed. I still maintain that these things take time.

[Flux0z]

Right now they are working on integrating ETH, and it's tokens to the platform, along with trading bots etc.

Yes. Like I said yesterday, it's too early to conclude that stakenet DEX aggregator will solve the problem with status quo DEX.

As far as I know, it shouldn't really take that long to develop. They need their priorities straight when working on this project, so I'm sure once they've released the DEX, the Aggregator will be implemented shortly after.

It's not that easy. If I remember correctly, StakeNet has about 10 or more features/products that they're are currently working on. After the DEX release, It'll still take a while to get the DEX aggregator up and running as series of testing has to be made to ensure that the software work as it should.

Nothing is built/coded instantly, and while I do understand your "concerns", it's really not that big of a deal considering how slow other projects are with developments. I'm actually impressed with the speed of development on this project. There are like 40+ devs on this project as far as I know, so they are progressing pretty damn fast.

I think you may have misunderstood me. I didn't in any way mean that the features I mentioned in my last post could be developed (coded) instantly. The point I was trying to drive home was that, implementing features like this does take time. It's a financial application and at such, there's more to just creating the platform. They also have to perform series of tests to ensure that users have a secured and seamless experience while using the platform.

I for one follow the Stakenet team progress on github to see their progress. So far, I've been impressed. I still maintain that these things take time.

I did misunderstood you I see, sorry about that!

I'm impressed with their developments as well, and when you consider that parts of their developments are in private repos on Github (not viewable by the public), it's truly impressive how much they've been building on infrastructure as of lately. They've been testing the Multi Currency Wallet and DEX for months now, and it finally seems like the biggest bugs and security flaws has been solved. It wouldn't surprise me if the DEX is realeased before the BTC halving, or just after, who knows? All I know is, that this is one the greatest dApps I've ever seen built.

[HomeBoyChild]

The Lightning Network is way more benefitting to crypto than I first realized. I've seen so much hate on it from BTC maximalists, but what I think they don't understand is, that BTC NEEDS to scale if adoption is to take place in any greater scheme than what we're seeing today.

Exchanges is starting to adapt to the Lightning Network, and I'm sure we'll see Lightning payments being used more and more as the network fees increases.

[Flux0z]

The Lightning Network is way more benefitting to crypto than I first realized. I've seen so much hate on it from BTC maximalists, but what I think they don't understand is, that BTC NEEDS to scale if adoption is to take place in any greater scheme than what we're seeing today.

Exchanges is starting to adapt to the Lightning Network, and I'm sure we'll see Lightning payments being used more and more as the network fees increases.

True, The Lightning Network straight on BTC doesn't make much sense, as nobody would run it and be in profit due to the low fees involved, so Stakenet's idea is pretty damn cool.
I'm excited to see the final public release of this, as it's been in the works for a long time now. Pretty impressed from the tests I've done so far, looks pretty slick, and functions pretty smooth as well. Devs just needs to add the last bits for the final release.

[jahepahit]

actually the hypernet network is reserved for company owners. because hypernet itself is an internet network provider that requires a large scale. so if this system combined with crypto technology is certainly very useful for users

[Marckolind]

actually this is a problem of the work system. where all use work methods that aim to provide good service to users. but if it reduces the working power of speed, of course this is a new problem

Not sure what you're trying to say here.
The Lightning Network doesn't have much incentive to run on BTC itself due to the low rewards for hosting a node, it's completely different when you host a node on an already existent profitable masternode though, which also makes the whole thing decentralized

I actually have seen one or two posts in the pasts from someone sharing their lightning node income and it's actually not bad at all. Satoshis actually do stack up and if you've got a good node connected to a lot of channels, those micro fees add up over a day, over a month. Plus we're talking actual btc, which is a hundred times better compared to any masternode income.

True, so you've got the best of both worlds here. You can profit from your lightning node PLUS your masternode as they will run on the same VPS server. As more and more dApps is being developed you'll be able to profit from 3-4, maybe even 10 different sources a few years from now.

Traditional masternodes isn't assigned any real "jobs", they are just "sitting there" doing nothing. That's what I like about Stakenet. It's such an innovating way of thinking.

[Flux0z]

actually this is a problem of the work system. where all use work methods that aim to provide good service to users. but if it reduces the working power of speed, of course this is a new problem

Not sure what you're trying to say here.
The Lightning Network doesn't have much incentive to run on BTC itself due to the low rewards for hosting a node, it's completely different when you host a node on an already existent profitable masternode though, which also makes the whole thing decentralized

I actually have seen one or two posts in the pasts from someone sharing their lightning node income and it's actually not bad at all. Satoshis actually do stack up and if you've got a good node connected to a lot of channels, those micro fees add up over a day, over a month. Plus we're talking actual btc, which is a hundred times better compared to any masternode income.

I'd love to know how much profit those nodes accumulate, do you remember how much? As it's a secondary income, I wouldn't mind if the profits was low, but this is quite interesting to read.

[Marckolind]

actually this is a problem of the work system. where all use work methods that aim to provide good service to users. but if it reduces the working power of speed, of course this is a new problem

Not sure what you're trying to say here.
The Lightning Network doesn't have much incentive to run on BTC itself due to the low rewards for hosting a node, it's completely different when you host a node on an already existent profitable masternode though, which also makes the whole thing decentralized

I actually have seen one or two posts in the pasts from someone sharing their lightning node income and it's actually not bad at all. Satoshis actually do stack up and if you've got a good node connected to a lot of channels, those micro fees add up over a day, over a month. Plus we're talking actual btc, which is a hundred times better compared to any masternode income.

I'd love to know how much profit those nodes accumulate, do you remember how much? As it's a secondary income, I wouldn't mind if the profits was low, but this is quite interesting to read.

I'd love to know as well as I haven't seen much talk about profits in regards to operating Lightning Network nodes. With fee's as low as 1 satoshi, it requires a TON of daily transactions to be worth it long term. I guess you can set your own price if you setup a node though? As long as it's cheaper than a standard on-chain transaction, I don't see why nobody would benefit from it. 

[Febo]

There is around 10% less Bitcoins in Lightning network as a year ago. That is very sad. Blockstream’s Liquid side chain on the other hand had huge growth in last few months.
 
After both the number of payment channels and the publicly visible capacity of the network peaked in April of last year, the values ​​fell continuously for around half a year. Now a trend reversal is in sight. At the beginning of November, there were only around 811 bitcoins in the Lightning network, the number has now risen again to more than 950.


Capacity in public Lightning channels according to Bitcoin Visuals. The orange line represents the capacity in Bitcoin, the blue one in dollars.

[casperBGD]

There is around 10% less Bitcoins in Lightning network as a year ago. That is very sad. Blockstream’s Liquid side chain on the other hand had huge growth in last few months.
 
After both the number of payment channels and the publicly visible capacity of the network peaked in April of last year, the values ​​fell continuously for around half a year. Now a trend reversal is in sight. At the beginning of November, there were only around 811 bitcoins in the Lightning network, the number has now risen again to more than 950.

Capacity in public Lightning channels according to Bitcoin Visuals. The orange line represents the capacity in Bitcoin, the blue one in dollars.

it is sad to hear that lighting network is losing on their revenue with Bitcoin, i am curious will this trend reverse in 2020 after the halving, hope it will

[Flux0z]

There is around 10% less Bitcoins in Lightning network as a year ago. That is very sad. Blockstream’s Liquid side chain on the other hand had huge growth in last few months.
 
After both the number of payment channels and the publicly visible capacity of the network peaked in April of last year, the values ​​fell continuously for around half a year. Now a trend reversal is in sight. At the beginning of November, there were only around 811 bitcoins in the Lightning network, the number has now risen again to more than 950.


Capacity in public Lightning channels according to Bitcoin Visuals. The orange line represents the capacity in Bitcoin, the blue one in dollars.

You have to consider that running, and setting up a Lightning Node isn't for newbs, and only hardcore nerds at this point in time. Stakenet will have around 2000 masternodes with a huge amount of them running Lightning Nodes, which will boost the numbers of BTC in Lightning nodes significantly.

As a general user of the Stakenet DEX, you don't need to know much about Lightning, everything is handled for you, which I believe will be something that a lot of people will make use off, to trade with lower fees.