Bitcoin Lightning Network

[Whited35 15285]

We really have the benefits of using Bitcoin lighting network due to fast transactions and transactions fees are extremely lower in the case if we use Bitcoin lighting network. Bitcoin lighting network is come into contrast to overcome scalability problem. 

[Rahul11 292]

On 11/6/2019 at 8:09 PM, Ajlovez7 said:

Do u guys know the advantages of bitcoin lightning network?

Bitcoin transactions will be really fast & instant payments. also scalability will be increased a lot & it will handle millions & billions of transactions per second across the network.the lightning network will alllow extremely low transaction fees & intstant Micropayments. Cross blockchain atomic swap will occur intstantly & very fast.

 

I know about bitcoin lightning network few much. It's one of the upgrade version of bitcoin network. We can make transactions with it more faster. But there are many bugs in the network. Many people losses their money by using this.

[Honny143 13612]

Well I know this lightning technology I heard in you tube, basically its advance technology in transaction,  now we send bitcoin in another wallet its take some time to confirmed, but in lightning network technology we sent bitcoin instantly, but this technology not popular because its new and so many users no this technology.

[Iriswolfgang 200]

On 11/7/2019 at 5:57 AM, Crypto123 said:

I have never heard of The Bitcoin Lightning Network before, but as they understand from your post, these features are really great and help to accept Bitcoin much more before around the world.

Lightning networks is those networks taht works with ultra fast speed and I think that it is great to use because like the decentralized cryptocurrency it doesn't have taxes so people can earn without paying that much fees

[BitcryptoHan 2557]

1 hour ago, Iriswolfgang said:

Lightning networks is those networks taht works with ultra fast speed and I think that it is great to use because like the decentralized cryptocurrency it doesn't have taxes so people can earn without paying that much fees

You are right, but you need a special wallet for this, and know that your bitcoin will first leave the blockchain, and that the 2 layer is not yet well adopted, people still like to make transactions through blockchain. 

[TimopheyKa 3900]

Yes, I have heard about this system, and this is very interesting news! It seems to me that this system will facilitate the work of the entire digital web very well, and will allow you to quickly exchange funds. It also has an advantage, I think hackers will not be able to crack the code so quickly, getting themselves funds!

[Cryptomint 433]

This was really a good method which introduced in the 2019. And by this method the transaction became faster and more easy...

[Alimhana930 1605]

This network has solved the problem of scalability and the ability to process larger quantities of transactions, and this matter of course will make it the focus of attention and thus interest and interest in its development will increase, so now we see a kind of competition in the increase in transmission speed and the decrease in fees between different networks.

[Onden 2098]

I think there are many vulnerabilities in this network, bitcoin transactions which are supposed to be private and anonymous, using the Bitcoin Lightning Network will expose transactions. In addition, there is a gap that the bitcoins we send will be lost because the network does not originate from the blockchain itself which was created by satoshi. For the sake of security it's better we don't use it.

[yonkii 3205]

I know a few things only about the lightning network, it is supposed to be another network that connects with Bitcoin and you need to send your bitcoin in a LN wallet first. The fees will be very low from the reports I have read and it will be very fast. I didn't know about millions it will be able to handle traffic of millions of transcations per second and this will be something that makes this a very strong network that could compete with the big payment processing companies Visa, Mastercard and the bank system.

[bogdanoff 3173]

The lightning network will be something that will create increasing adoption for Bitcoin. It is already used by many merchants but not available for massive use beacuse of vulnerabilities and services that need to be developed first.

[cryptovlek 2597]

We expect the lightning network with a lot of excitement. When it is announced it will be a great day for Bitcoin that will make price rise a lot and millions of people are already waiting to use it for everything. I read that it has been many years and that some use it already but needs caution as mistakes can lead to loss of bitcoin.

[wassim19 645]

It is useful for all users of Bitcoin and cryptocurrencies, and there is always improvement in Bitcoin services in order to facilitate the work of users and the development of blockchain technology.

[Fixfin 2569]

The advantages of lightning network will be:

• Instant transactions in seconds
• Extremely low fees
• Microtransactions
• Secure second layer Bitcoin network.

Bitcoin will be viewed differently after the Lightning Network is ironed out from bugs and becomes used by every website in the world as expected.

[decemberends 1881]

Apperently this is a faster and more efficient thing compared back then so no more random hassle and stuff? great to know but is there any atleast disadvantages of anyhow as how good it is and for so on it has atleast some stuff that negates it.

[Mella 3680]

I am read a few article about the lightning network. It is a hidden weapon for Bitcoin, one that can be change everything and make Bitcoin so used that will be a mainstream payment method used by everyone and make memes about the LN phones and tik tok videos of how cool they are and ask for payments to be send there. I am think it will be one very trendy way to transfer payment and will be very main stream.

[zhoutong 2188]

It is hard to know when this network will be ready. LN is being developed for five years and there is no actual date of finishing any time soon. It is still incomplete and has many problems. While Blockstream liquid network is already running and testing and maybe it can become the answer to scaling problems of Bitcoin.

[kryptonick 2659]

The lightning network will be amazing fast and cheap and make Bitcoin something that many were dreaming about. Some discussions about centralization of this network are made and I expect to read better review why this was considered like that. I hope though that this will be finished soon as it has been a very long time waiting for lightning network.

[Sarahden111 1231]

It is a network that was created after the Bitcoin ad blockchain and has excellent applications of expanding and speeding up transactions, but one of the most important problems that are facing now is the privacy of users and transactions.

[percare 3192]

We keep reading about the lightning network but it is still a work in progress. We have some adoption but it is very low yet and this made shop owners turn to other cryptocurrencies for less fees and faster confirmations. I hope this is temporary and Bitcoin will not be abandoned as a method of payments and purchases.

[M.bello 1015]

Hello mate I have not had of bitcoin before but through crypto currency i learn more experience and knowledge, bitcion is fast and affordable to buy on the Internet within a second you will buy million's of bitcion to earn a living if the price rise the money will rise too while if the price fall in the global market the money also fall 

[Goyaa 2414]

But Lightning Network is believed to be vulnerable to hacks and theft as they have to be online all the time. In addition, there will be an increase in bitcoin transaction fees. They are an important element of the overall cost of the network. If bitcoin transaction fees go up, then the second layer can become redundant because it will become cheaper to make transactions on the bitcoin blockchain.

[leakydonney 1402]

That's obviously true that the lightning network is said to be able to take the transactions within a second of Bitcoin and other cryptocurrencies to unprecedented heights of at least 1 million transactions per second with low transactions fees

[alaarami 103]

It is true, my dear, as these advantages are present in the Bitcoin network as millions and many transactions are sent in a short time through transmissions, as this wonderful thing needs to be developed in order not to penetrate it.

[Alex9876r 1408]

The Lightning Network consists of an external transport network that is built on top of the Bitcoin blockchain. The system works on a peer-to-peer (P2P) level and its ease of use depends on the creation of so-called two-way payment channels through which users can conduct continuous cryptocurrency transactions. After both parties decide to open a payment channel, they can transfer funds back and forth through their wallets.