Post
Topic
Board Development & Technical Discussion
Re: Safety of the Lightning Network
by
doublebit21
on 29/09/2017, 18:09:16 UTC
Good day all  Grin

I want to know your thoughts on the safety of the lightning network. I would like some consolation and clear up some misunderstandings.


If I sent a lightning network transactions off-chain and it is confirmed, what is there to stop me sending the on-chain transaction to another wallet I own. When the lightning network channel is closed, then it is no longer available?


Sorry if this sounds stupid Smiley

The Lightning Network is currently under development. It will become a decentralized network that enables instant off-chain transfer of the ownership of bitcoin, without the need of a trusted third party. Lightning is open source. Anyone can review the code (in the same way as the bitcoin code). If anything goes wrong, you simply broadcast the latest state of your channel as a normal on-chain bitcoin transaction. All your money will be returned to your address, and it will be recorded on the blockchain as normal.