Bitcoin’s Lightning Network Explained For Dummies! Will This Solve Bitcoin’s Scalability Problem?!



Lightning Network is a popular proposed solution to Bitcoin’s debated scalability problem. It is a second-layer off-chain solution which basically allows peers to …

7 Comments

  1. I think lightning network is a desperate attempt from BTC maxilmists to try and save an old, slow, expensive and dying tech. People need to wake up a accept that EOS, Cardano and XRP are the future of this space and BTC will never compete with them once people become educated that the famous name is not the best tech. Moreover, proof of work is so 2013, the future is proof of stake that does not require half the wolrd's energy to mine and that does not rely on miners to keep operations going. Furthermore, BTC is also more centralised than some other techs, as it is controlled by Whales that can pump and dump the whole market when they want. Do people really think that is an efficient decentralised product?

  2. I dunno, I don't think speed of transactions are what is currently stopping mass adoption, therefore this likely won't have much of an impact on Bitcoin usage or value, imo. LN puts the cart before the horse in this respect. It is like making a fast car that only very few people currently want to drive. Maybe after mass adoption (if it occurs) LN will help ensure it continues. Also, isn't there a giant issue with delays when closing a channel back to the BTC network? That BTC transaction will still be slow. Thanks for the video, though, Kev, good work!

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