Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Re: Lightning Network Discussion Thread
by
nefIndustries
on 05/12/2018, 02:26:24 UTC
⭐ Merited by JayJuanGee (1)
I belive that its LN that its helping holding the 6k. Everyone is beliving that this will make an YUGE impact in bitcoin future. If this goes wrong it will be a massive dump!

I would like to have an eye on LN developement. Is there any site to look?
Is there any issue/problem thats is not solved yet?

LN is a layer two solution, meaning it is built on top of & completely separate from the Bitcoin blockchain that has been running for almost 10 years. While the Lightning Network may help increase adoption, its impact will likely not be seen for at least a year or two. The network is growing at a faster rate every day. LND is hard to run for regular users right now. Right now, to implement a node using all the features available (connecting to peers, opening channels, funding channels, making sure you are properly connected to peers & the network) you must be fluent in some sort of command line interface, understand internet trafficking, IP addresses, and be comfortable using and reading information from a terminal. It may be scary at first, but with a drive to learn on your own, perseverance, and a little bravery, I know you can do it!

If that doesn't sound appealing to you, there are applications are being built with a user interface, making it feel much safer and less chaotic.

If the lightning network failed right now, I don't think it would result in a massive dump. I think this because not very many people are using it & regular people are not paying attention to Bitcoin right now. If it failed during the craziness of December 2017, I think it would result in a massive dump, because people who buy at the top don't understand the technology and they would think it was actually Bitcoin that had failed. However, we know that it is a layer two solution and is completely separate from the standard Bitcoin Blockchain.


As for resources to keep an eye on development:

These are the three main BOLT protocol implementations

This is one resource for news from the applications built on top of these implementations

Here you can see Lightning Nodes and their Channels

And finally here is an extra resource to keep you busy and learning for days!


When you are hungry for more come back here!  Cool