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Tell me about Lightning - many replies needed.


Ladyy

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The Lightning network is a fascinating thing isn't it?  

I have countless hours studying a multitude of blockchain projects but 

I do not have much knowledge of the lightning network - even though I use it 

often.  I would like to test the BC Gamers to see how clever you all are. 

 

If you had to summarize the lightning network in one concise paragraph- 

what would your description be?  

I want to see what you all are made of- mind power wise.  

If you do understand but you have trouble with English then try to fill in the blanks: 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡

The Lightning Network is used by (_________who____________________) 

to do this: (_________what_________) 

 

The Lightning Network helps solve these problems: 

1.

2. 

 

The Lightning Network Is better than ______________________________

because it improves this weakness/flaw: ___________________________. 

 

The way the Lightning Network relates to Bitcoin use is ________________

_______________________________________________________________________

⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 

You can use that as a template if you need to. Its ok if you don't.

Lets see your brain skills BC Gamers!  

⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡⚡

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🦋 ██ █╬█ ███ ╬█╬ ╬█╬ 🦋

    

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The Lightning Network is used by (everyone who wishes to send crypto

to do this: (enjoy instant transactions with basically zero fees.

 

The Lightning Network helps solve these problems: 

1. Scalability (meaning it can support basically an infinite amount of transactions without effecting the speed of confirmation) 

2. Fees with Lightning are less than $0.001 USD. So micro transactions with Bitcoin are finally possible.

 

The Lightning Network Is better than blockchains alone

because it improves this weakness/flaw: interchangeability(cross chain transactions) and transaction speeds 

 

The way the Lightning Network relates to Bitcoin use is......? Lightning Network is not a coin. It is a second layer protocol that can be adopted by blockchains. Bitcoin is the most common blockchain that uses LN. But other blockchains can and do use it too.

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