3 ms·

idk why this is downvoted, this is the correct answer. What the OP mentioned is called Rollups, which is the popular solution on Ethereum and other smart contra

• sudhirj 5y ago
  So the Lightning system uses the Bitcoin wallet to mutually sign transactions? And what’s the protection against me spending the Bitcoin on the main blockchain before the Lightning transaction is registered? I can understand that can’t double spend BTC on the Lightning network, but how does it stop from double spending between chains?
  • Geee 5y ago
    See this for a more complete explanation: https://news.ycombinator.com/item?id=28470154 https://news.ycombinator.com/item?id=28470154
  • poontang1 5y ago
    There are not two chains, there is only bitcoin. Lightning channels are addresses owned by multiple parties where you pass around signed transactions that could be settled on chain at any time, but you choose not to because there is no need to. When you want to settle everything, instead of submitting all the built up transactions, you can just make a single tx instead settling the final balance. It would be like if you sent me a $5 check every day of the month, and at the end of the month I agreed to tear them all up if you just wrote me a check for $150 instead. The analogy is still poor cause a check can bounce, but theres no good way to cheat in this system.
    • NikolaNovak 5y ago
      This is all educational and I appreciate it (genuinely!) but is there any indication such solutions are actually used in this government sponsored usages?