4 ms·
It's a p2p mesh network. Lots of people open channels to lots of other people, payments are routed over the network.
by nope96 4y ago
It's a p2p mesh network. Lots of people open channels to lots of other people, payments are routed over the network.
- jmoak3 4y agoHmm so I have a channel with Target, Target has a channel with my neighbor, and my neighbor has a channel with my cousin. You're saying I could send money to my cousin and Target and my neighbor would take some sort of cut if they agree to process the transaction? How do they prevent double spend? What if I have that network, and also a channel with Walmart, and I send all my money to Walmart at the same time I send it all to my cousin, and they give me a sofa In <some_time_period>'s time when everyone closes the channels, my cousin will have my money, Walmart won't have my money, and I have a sofa. Am I understanding this correctly? EDIT: Oh, I see, my coins get locked in the process, so I couldn’t have a separate channel with all of my coins with Walmart. They would have to have a channel with Target, and I assume a good chunk of people in the mesh would have to validate every transaction to prevent double spend. So it’s not totally broken, it just scales poorly as the size of the mesh network grows? To service the needs of an entity like target which may have a channel with everyone at the same time, I still think a centralized company will emerge to take on the processing with an intermediate hot wallet, instead of a lightning mesh. But thanks for helping me understand lightning!
- alchemist1e9 4y agoWhy you are posting so much about something you really don’t understand at all?
- jmoak3 4y agoI was posting to understand, and people helped me
- alchemist1e9 4y agoYou sure started out pretty confident. I’m very interested in the intense emotional reactions to crypto currency technology, either immediately dismissive or extreme passion not based on facts.