TD₿: The Lightning Network in the Old West by jratcliff63367
TD₿: The Lightning Network in the Old West by jratcliff63367
TL;DR This piece uses a fun metaphor to explain the Lightning Network and is a good starting place for beginners to better understand it.
Hey Bitcoiners,
Last year, one of the big stories was the explosion in the adoption of the Lightning Network across all metrics.
Whether it be in the number of open channels, the number of nodes, or the network capacity, all of them have sky-rocketed.
The growth of the Lightning Network is encouraging given that it enables cheap, fast transactions on top of Bitcoin without congesting Bitcoin’s base layer.
If you’re still trying to wrap your head around the Lightning Network, I always enjoyed this piece as a good introduction to the subject (02/12/2016).
The success of second-layer scaling solutions like the Lightning Network cannot be understated.
It adds scalability to Bitcoin as a payment network while still utilizing the security and immutability of Bitcoin’s base layer.
As a result, the recent growth of the Lightning Network should have all these “faster” altcoins shaking in their boots.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“The Lightning Network doesn't get much attention outside of certain niches but I continue to view it as likely being a bigger deal than many expect it to be over the next decade.” - Lyn Alden, Founder at Lyn Alden Investment Strategy
Meme of the Day
(h/t @onemorenode)