Talk:Lightning Network

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Latest comment: 5 years ago by Renepick in topic Suggested addition
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Series of Educational Videos to be produced

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Here is a list of potential videos to be created. The titles could change in the future to make them even more interesting for users. Currently they are more focused to give experts an idea about the potential content. Feel free to add suggestions. If you plan to create one of the videos just edit this page and write your name behind a video. As long as no name is there I (User:renepick) plan to produce those videos eventually.

  1. What is the Lightning Network?
  2. What is a payment Channel?
  3. What is a network of payment channels?
  4. What is a Revocable Sequence Maturity Contract (RSMC)?
  5. What is the secret of Hashed Time Locked Contract (HTLC)?
  6. Why is the lightning network so fast?
  7. X things you did not know about the lightning network.
  8. Why is the lightning network secure?
  9. How secure is the lightning network?
  10. How far does the lightning network scale?
  11. Dangers of using the lightning network
  12. How do I pay a lightning invoice?
  13. Do I need Crypto currencies to use the lightning network?
  14. Can I use the lightning network on cold storage?
  15. Why is the channel balance fixed?
  16. How expensive is using lightning?
  17. Can I use a mnemonic seed to restore my lightning wallet?
  18. How to Backup a lightning wallet?
  19. What happens if I loose my Commitment Transactions or Revocation Keys?
  20. Do I really have to be online all the time when using the lightning network?
  21. Why is the lightning network different to credit cards or current payment methods?
  22. Does the lightning network only work with Bitcoin?
  23. How can I offer Lightning Payments to my customers?
  24. Why can payments sometimes not be routed?
  25. When will the lightning network become mainstream?
  26. What is the incentive for people creating the lightning network?
  27. Why do I not have to trust my channel partner?
  28. Why Can't someone steel funds while routing a payment through the network?
  29. How to secure your lightning wallet
  30. Overview of current LN wallets for Android and iOs

Bitcoin Cash

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I saw how User:Michael_Ten added a see also section with links in this edit (c.f. [1]). However I am not sure if we need to talk about Bitcoin Cash here since - as far as I understand - it currently cannot support the lightning network. What do other think? -- Renepick (discusscontribs) 20:24, 23 August 2018 (UTC)Reply

It is a potential alternative to the Lightning Network. No? Michael Ten (discusscontribs) 20:47, 23 August 2018 (UTC)Reply
It has been discussed as an alternative way to scale bitcoin. So from an historical point of view it might be relevant here. From an technological point of view I don't see how it is an alternativ to lightning which is a 2nd layer technology. Therefor I would rather not mention it here. But I would be more excited to see what others are saying. -- Renepick (discusscontribs) 21:19, 23 August 2018 (UTC)Reply

Suggested addition

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What is Lightning Network? It is a potential scaling solution (allowing for more transactions per second) for Bitcoin. It may or may not work. Bitcoin Cash (a fork and/or upgrade of Bitcoin) attempts to scale by increasing block size. It is controversial. Once one or more cryptocurrencies can scale to handle as many transactions per seconds as the card/finance company Visa, then one or more cryptocurrencies have the potential to be a single world-wide currency effectively.

I think the Wikipedia article would give a better starting point as the first sentence
 The Lightning Network is a "second layer" payment protocol that operates on top of a blockchain (most commonly Bitcoin). It theoretically enables fast transactions between participating nodes and has been touted as a solution to the bitcoin scalability problem. It features a peer-to-peer system for making micropayments of digital cryptocurrency through a network of bidirectional payment channels without delegating custody of funds.

--Renepick (discusscontribs) 06:37, 24 August 2018 (UTC)Reply