Post
Topic
Board Speculation (Altcoins)
Re: Lightning Network - Thoughts?
by
TravelMug
on 17/05/2020, 00:20:44 UTC
Who is hating Lightning Network? when we can save a lot of transaction fees although it has some limitations. But it could really help in a way, specially if we go on another parabolic run choking the network.

So if you wanted to pay someone, you can take advantage of LN, open a channel so that the other party can issue the payment without adding congestion to the network, p2p, off-chain transaction.
As mentioned the only issue with me is the limitations and trusting a random channel expecting that i could trust them. We are seeing the adoption for a while but for a major adoption we need to have a friendly interface and i expect electrum or similar companies to come up with Lightning Network integration that could help anyone to start a channel easily.

Right now the bitcoin transaction are congested and it is taking several hours to get a confirmation. I hope majority of the exchanges starts accepting LN to avoid the delay.

Bitcoin transaction is congested because of the drop of the hashing power due to the block halving. That's why we need to check for the fee estimator like https://jochen-hoenicke.de/queue/#2h. But I'm sure it will normalised though.

Here is a thread as well, Some exchanges accepting Lightning Network.

Electrum developer have confirmed that they are building Electrum supported LN payment that will be included in the next release. https://twitter.com/ElectrumWallet/status/1183706431473815552