How much do you know about Lightning Network?

[matteo_invst1]

I am just searching for many projects that are working on BTC scalability problems. The most important one is the Lightning Network.

Could you please tell me all you know about it?
What are LN's advantages and disadvantages?
How can we use it?
How can it help BTC scalability?

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[puremage111]

I am just searching for many projects that are working on BTC scalability problems. The most important one is the Lightning Network.

Could you please tell me all you know about it?
What are LN's advantages and disadvantages?
How can we use it?
How can it help BTC scalability?

I read summary of it
Basically LN = create a side network/side channel on Bitcoin

But instead of publishing all every TX to blockchain, it computes and publish at once
Pros = Fast, Cheap, since everything is recorded on "Sidechain" instead of main chain
Cons = Lack of people who understand, Trust and most important "Complexity"

Of course it could scale BTC a lot, imagine instead of sending transaction every second and flooding the blockchain
Every transaction will be add/deduct on another ledger book, then only publish the transaction on a certain time frame let's say 0000 UTC everyday
This ensure that one Transaction which contains all the information in it

[RokokGudangGaram]

I've been seeing lately this Lighting Network on gambling site but until now I don't have any idea what is it or how does it work, good thing that you've brought this topic. I should try to find some articles online for personal benefit I always forgot to search it.

[crwth]

I haven't clearly studied LN, but I remember that some people have been working out different things and testing them out. It has cost a user 4 BTC IIRC. I'm not sure about the progress on that, but that's always what I remember when I read or see things about the lightning network. Imagine losing that now, and there are possibly more people who lost money to test it.

If LN has become the norm, BTC would be used more often for sure. Who wouldn't want that immediate transfer that we all want with confirmation, right?

[matteo_invst1]

I haven't clearly studied LN, but I remember that some people have been working out different things and testing them out. It has cost a user 4 BTC IIRC. I'm not sure about the progress on that, but that's always what I remember when I read or see things about the lightning network. Imagine losing that now, and there are possibly more people who lost money to test it.

If LN has become the norm, BTC would be used more often for sure. Who wouldn't want that immediate transfer that we all want with confirmation, right?

Using LN, you will create a secure channel between you and someone else that you send and receive a small amount of BTC or do too many transactions each day. In LN, you will do all your transactions off-chain, which means you don't need to wait for a longer time to receive network confirmations for each transaction. In the end, when all your transactions are done with another person, your final transaction with all your assets will be recorded on the blockchain (ON-chain), which is secure and instant.

[Marckolind]

Take a look at Stakenet - XSN.

Stakenet is working on exactly this problem, and have been the leading project in Lightning Network developments since the past 2 years.

They built their own DEX, which is integrated in a multi currency wallet. This makes it easy to use it, and very convenient as well. The Lightning Network is hosted by Stakenet's 2700+ masternodes, which makes the whole setup decentralized.

Instant BTC/LTC/XSN trading is already working fine, next thing they work on is Ethereum integratiion via the Connext protocol. Once this is enabled, you'll have a fully functional DEX, which works pretty much  the same way as Uniswap, but transactions will be instant and with extremely low fees.
Not only that, but this DEX had liquidity providers, meaning you can trade through centralized exchanges such as Binance, without needing an account on there, hence NO KYC.

This project isn't as known as it probably should be, but I believe once ETH is integrated, that people will start noticing it, since the biggest problem on Uniswap right now is:

Failed transactions
High Gas Fees
Slow transactions

Wrapping up BTC is like trading with a condom on, it's not really ideal when you can trade the real thing on a 2nd layer solution, as provided by Stakenet.

Here's a picture of how it looks like for reference:

[matteo_invst1]

Take a look at Stakenet - XSN.

Stakenet is working on exactly this problem, and have been the leading project in Lightning Network developments since the past 2 years.

They built their own DEX, which is integrated in a multi currency wallet. This makes it easy to use it, and very convenient as well. The Lightning Network is hosted by Stakenet's 2700+ masternodes, which makes the whole setup decentralized.

Instant BTC/LTC/XSN trading is already working fine, next thing they work on is Ethereum integratiion via the Connext protocol. Once this is enabled, you'll have a fully functional DEX, which works pretty much the same way as Uniswap, but transactions will be instant and with extremely low fees.
Not only that, but this DEX had liquidity providers, meaning you can trade through centralized exchanges such as Binance, without needing an account on there, hence NO KYC.

This project isn't as known as it probably should be, but I believe once ETH is integrated, that people will start noticing it, since the biggest problem on Uniswap right now is:

Failed transactions
High Gas Fees
Slow transactions

Wrapping up BTC is like trading with a condom on. It's not really ideal when you can trade the real thing on a 2nd layer solution, as provided by Stakenet.

Here's a picture of how it looks like for reference:

This is great; why they worked so under the radar?
I think they solved the biggest problem of BTC scalability by introducing Stakenet DEX!

Decentralized Exchange, Instant trades, low fee, no KYC, and liquidity providers. This is DEX, which feels like CEX!

[CCNCCN]

lightning has been around for some time.  Anyone have a link where I can read up (quickly in summarised form) on developments?

I'm j/w about adoption and barriers to it.

[Marckolind]

Take a look at Stakenet - XSN.

Stakenet is working on exactly this problem, and have been the leading project in Lightning Network developments since the past 2 years.

They built their own DEX, which is integrated in a multi currency wallet. This makes it easy to use it, and very convenient as well. The Lightning Network is hosted by Stakenet's 2700+ masternodes, which makes the whole setup decentralized.

Instant BTC/LTC/XSN trading is already working fine, next thing they work on is Ethereum integratiion via the Connext protocol. Once this is enabled, you'll have a fully functional DEX, which works pretty much the same way as Uniswap, but transactions will be instant and with extremely low fees.
Not only that, but this DEX had liquidity providers, meaning you can trade through centralized exchanges such as Binance, without needing an account on there, hence NO KYC.

This project isn't as known as it probably should be, but I believe once ETH is integrated, that people will start noticing it, since the biggest problem on Uniswap right now is:

Failed transactions
High Gas Fees
Slow transactions

Wrapping up BTC is like trading with a condom on. It's not really ideal when you can trade the real thing on a 2nd layer solution, as provided by Stakenet.

Here's a picture of how it looks like for reference:

This is great; why they worked so under the radar?
Stakenet Dex is a full package! I think they solved the biggest problem of BTC scalability by introducing Stakenet DEX!

Decentralized Exchange, Instant trades, low fee, no KYC, and liquidity providers. This is DEX, which feels like CEX!

I guess they've just waited with marketing until they had a good product to show, which is getting close to a full release now. Indeed it feels like a CEX, that's the whole point they're aiming for.
Uniswap got very popular very fast, but the transaction fees is crazy high because the Ethereum network is too congested.

[matteo_invst1]

Take a look at Stakenet - XSN.

Stakenet is working on exactly this problem, and have been the leading project in Lightning Network developments since the past 2 years.

They built their own DEX, which is integrated in a multi currency wallet. This makes it easy to use it, and very convenient as well. The Lightning Network is hosted by Stakenet's 2700+ masternodes, which makes the whole setup decentralized.

Instant BTC/LTC/XSN trading is already working fine, next thing they work on is Ethereum integratiion via the Connext protocol. Once this is enabled, you'll have a fully functional DEX, which works pretty much the same way as Uniswap, but transactions will be instant and with extremely low fees.
Not only that, but this DEX had liquidity providers, meaning you can trade through centralized exchanges such as Binance, without needing an account on there, hence NO KYC.

This project isn't as known as it probably should be, but I believe once ETH is integrated, that people will start noticing it, since the biggest problem on Uniswap right now is:

Failed transactions
High Gas Fees
Slow transactions

Wrapping up BTC is like trading with a condom on. It's not really ideal when you can trade the real thing on a 2nd layer solution, as provided by Stakenet.

Here's a picture of how it looks like for reference:

This is great; why they worked so under the radar?
I think they solved the biggest problem of BTC scalability by introducing Stakenet DEX!

Decentralized Exchange, Instant trades, low fee, no KYC, and liquidity providers. This is DEX, which feels like CEX!

I guess they've just waited with marketing until they had a good product to show, which is getting close to a full release now. Indeed it feels like a CEX, that's the whole point they're aiming for.
Uniswap got very popular very fast, but the transaction fees is crazy high because the Ethereum network is too congested.

I like Unispaw but as you mentioned it has very high transaction fees. Also, you can't trade with real bitcoin. they create Wrapped version which is not feels good!

[Nick_ADA_FAN]

Take a look at Stakenet - XSN.

Stakenet is working on exactly this problem, and have been the leading project in Lightning Network developments since the past 2 years.

They built their own DEX, which is integrated in a multi currency wallet. This makes it easy to use it, and very convenient as well. The Lightning Network is hosted by Stakenet's 2700+ masternodes, which makes the whole setup decentralized.

Instant BTC/LTC/XSN trading is already working fine, next thing they work on is Ethereum integratiion via the Connext protocol. Once this is enabled, you'll have a fully functional DEX, which works pretty much the same way as Uniswap, but transactions will be instant and with extremely low fees.
Not only that, but this DEX had liquidity providers, meaning you can trade through centralized exchanges such as Binance, without needing an account on there, hence NO KYC.

This project isn't as known as it probably should be, but I believe once ETH is integrated, that people will start noticing it, since the biggest problem on Uniswap right now is:

Failed transactions
High Gas Fees
Slow transactions

Wrapping up BTC is like trading with a condom on. It's not really ideal when you can trade the real thing on a 2nd layer solution, as provided by Stakenet.

Here's a picture of how it looks like for reference:

https://i.imgur.com/hNtP3yd.png

This is great; why they worked so under the radar?
I think they solved the biggest problem of BTC scalability by introducing Stakenet DEX!

Decentralized Exchange, Instant trades, low fee, no KYC, and liquidity providers. This is DEX, which feels like CEX!

I guess they've just waited with marketing until they had a good product to show, which is getting close to a full release now. Indeed it feels like a CEX, that's the whole point they're aiming for.
Uniswap got very popular very fast, but the transaction fees is crazy high because the Ethereum network is too congested.

I like Unispaw but as you mentioned it has very high transaction fees. Also, you can't trade with real bitcoin. they create Wrapped version which is not feels good!

Uniswap is a total mess, good liqudity but the transaction fees are WAY too high, which is why I'm thinking Stakenet will at least take a decent marketshare if they can pull this off.

[BTCXRPADA]

If Stakenet can make instant ETH transcactions it's gonna blow up real hard. The majority of the volume would move from Uniswap to Stakenet's DEX just to save on huge transaction fees, and benefit on instant transactions.

Pretty exciting 

[TopGunLover]

If Stakenet can make instant ETH transcactions it's gonna blow up real hard. The majority of the volume would move from Uniswap to Stakenet's DEX just to save on huge transaction fees, and benefit on instant transactions.

Pretty exciting 

It's listed on some pretty awful exchanges though, latest news from their announcement states a new top tier exchange is coming soon though, which is good I guess.

Komodo worked on a similar DEX, but they enforced KYC as of lately, so it's not really decentralized anymore