Hello,
Could anybody tell me something about the requirements for the Lightning Network?
On the one hand, the SegWit update was necessary, which solved the transaction malleability problem and increased the block size.
Thus this update has paved the way for implementing the Lightning Network.
Now I was wondering if there were any other requirements for the Lightning network to be implemented?
Thank you very much in advance!
BTC has seen a small bull run over the past couple of weeks, trade volume has increased a little and now fees are back to about 160 sat/B or around $3 usd. So the small increase in block size brought by segwit was nowhere near enough needed for a world-wide payment system.
I admit i haven't wasted a lot of time looking into the Lightning Network, but from what i have seen i don't like.
You need to setup payment channels to send someone a LN transaction, and i think one of the requirements is to basically lock your funds on that channel.
Check out these videos:
The good old days of cheap fast bitcoin transactions now lives on in Bitcoin Cash (BCH)