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Maybe I don't fully understand it but from what I've gathered, the Lightning Network is a plan to enable people to do transactions outside of the main blockchai
by Joeboy 9y ago
Maybe I don't fully understand it but from what I've gathered, the Lightning Network is a plan to enable people to do transactions outside of the main blockchain and eventually sync them back. It seems to get touted as a magical plan to solve Bitcoin's scaling problems, but unless I'm missing something (which tbf is very possible) it seems more like a plan for bitcoin to abrogate its primary original purpose of handling end-user transactions.
- tr4cefl0w 9y agohttps://www.reddit.com/r/Bitcoin/comments/7h1v54/comment/dqnj8r2?st=JAPLEMAO&sh=51f82bf4 https://www.reddit.com/r/Bitcoin/comments/7h1v54/comment/dqn... This sums it up pretty well.
- em3rgent0rdr 9y agoLightning Network seems to me to be a hybrid solution that uses the best of both worlds: the security and stability of the main block chain for the overall holding and occasional transfer of large amounts of wealth between large organizations, while having offchain networks to experiment with different solutions for handling lots of small transactions quickly, while address still bring compatible with the main block chain.
- prance 9y agoThe thing you're missing is that in order to achieve scaling, Lightning Network sacrifices one of Bitcoin's main advantages, decentralization: https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800 https://medium.com/@jonaldfyookball/mathematical-proof-that-...