Re:All You Need to Know About Bitcoin's Rise, from $0.01 to ...
by Joeboy on Saturday December 02, 2017 @11:21AM
(#15832550)
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.
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Re:All You Need to Know About Bitcoin's Rise, from $0.01 to ...
by em3rgent0rdr on Saturday December 02, 2017 @12:31PM
(#15832943)
Lightning 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.
Re:All You Need to Know About Bitcoin's Rise, from $0.01 to ...
by prance on Saturday December 02, 2017 @06:59PM
(#15835091)
The 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-...
Re:All You Need to Know About Bitcoin's Rise, from $0.01 to ...
by tr4cefl0w on Saturday December 02, 2017 @12:17PM
(#15832862)
https://www.reddit.com/r/Bitcoin/comments/7h1v54/comment/dqn...
This sums it up pretty well.