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Still to settle btc transactions you need an L2 network right. Which is basically just a smaller and more arbitrary collection of nodes, aka less decentralized.
by randomopining 5y ago
Still to settle btc transactions you need an L2 network right. Which is basically just a smaller and more arbitrary collection of nodes, aka less decentralized.
Decentralization and processing speed + gas fee is inversely correlated it seems like. L2 is just a fancy way to reduce decentralization and thus gas fees.
- thebean11 5y agoIt's less decentralized, but it still gains from the decentralized nature of Bitcoin. The "settle up" transactions and the "punishment" transactions take place on the L1 blockchain. If someone tried to cheat the lightning network, they would fail unless they were also able to cheat the L1 network, as my "proof that you tried to cheat me" is submitted and validated in L1, not L2.