Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Re: How will Lightning Network be encouraged to use?
by
HeRetiK
on 14/01/2018, 23:57:30 UTC
⭐ Merited by ETFbitcoin (1)
1. Promoting LN advantage compared with on-chain transaction.
2. Availability of user-friendly LN software, at least should be as friendly as Electrum.
3. LN Support and adoption from exchange/services/business.

I am not familiar with how wallet software would be using the Lightning Network. I thought the Lightning Network was mostly used for bigger businesses who have to perform many transactions that could open and close channels with these transactions in them; am I misunderstanding? I could see user wallets using the channels provided by others, but I do not see how we would be able to take advantage of it on our own without the help of a bigger party. As you say, support and adoption from exchanges/services/businesses should help.

Lightning Network aims to be used by both consumers and businesses. The premise being that bi-directional payment channels can be used to create a network of nodes -- ie. the lightning network -- which enables every connected participant to transact with everyone else. That is, regardless of whether they have a direct channel running or are connected indirectly via a route across the lightning network.

Check out some of the testnet lightning wallets and applications for a first glimpse:

1) HTLC.me web wallet ( https://htlc.me/ )
2) Eclair testnet android wallet ( Google Play Store )
3) Lightning Desktop App ( https://github.com/lightninglabs/lightning-app/releases )
4) yalls.org for spending testnet microtransactions ( https://yalls.org/ )

It's still rough around the edges though.