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[SCAMEXPOSER]

Hopefully, the second month of next year, 2022, the blockchain data come plan support for the Lightning Network, which is a layer two protocol on the Bitcoin blockchain. Also, The integration will make the Chainalysis Know Your Transaction compliance software to become available to companies that process Bitcoin payments via Lightning nodes, which means that virtual asset service providers (VASPs) such as exchanges can handle Bitcoin transaction.
This will be a remarkable achievement if it becomes a reality.

 

[Ononivami1]

I quite understand your thread to a certain extent but the last shot wasn't clear atall. Do you mean that the virtual assets provide up until now couldn't provide bitcoin related transactions? I Will need you to explain I clear terms what you really mean. I have known the exchange to provide bitcoin services buy the transaction fee may be high.

 

[microunit]

I can see the support for the lightning network of bitcoin that it has alot of postivive sides, although most people still hardly support lightning network as for the sole reason that it has lesser securities than your average bitcoin transaction although sure it has lesser fees and faster transaction speed but at the cost of lesser security

 

[Ononivami1]

I can see the support for the lightning network of bitcoin that it has alot of postivive sides, although most people still hardly support lightning network as for the sole reason that it has lesser securities than your average bitcoin transaction although sure it has lesser fees and faster transaction speed but at the cost of lesser security

This is first time I will hear that the bitcoin lightening network is not secured like the usual transaction platform. I would like if you could edicate me more on this. I have always believed they the blockchain technology has made it very difficult for bitcoin to be tampered with. There are lot of security measures integrated into the blockchain, one of them is proof-of-work.

 

[microunit]

This is first time I will hear that the bitcoin lightening network is not secured like the usual transaction platform. I would like if you could edicate me more on this. I have always believed they the blockchain technology has made it very difficult for bitcoin to be tampered with. There are lot of security measures integrated into the blockchain, one of them is proof-of-work.

Well it's like , we know that in a bitcoin transaction there is like 8+ confirmations right, that means that the transaction details has a copy now of 8+ in the network on different nodes and when it is tampered each node will check the transaction details of each copy that's why it is hard to tamper with because if you want to tamper with the transaction you have to find and tamper with all the 8+ copies. but in lightning network there is only 1-2 copy of the transaction that's why it has faster transaction speed but less security

 

[Ononivami1]

Well it's like , we know that in a bitcoin transaction there is like 8+ confirmations right, that means that the transaction details has a copy now of 8+ in the network on different nodes and when it is tampered each node will check the transaction details of each copy that's why it is hard to tamper with because if you want to tamper with the transaction you have to find and tamper with all the 8+ copies. but in lightning network there is only 1-2 copy of the transaction that's why it has faster transaction speed but less security

That's a good and incisive explanation. The security measures in the bitcoin blockchain need more confirmation. Despite this, I heard that some computer could do such calculations in few minutes if one of the block is tampered. That is the advent of the proof-of-work. This would make manipulation practically impossible.

 

[Wisdom01]

I think to me the lightening network have been way more helpful ,from the start a lot of people have been making use of it for different purposes ,which it have not failed in helping to reduce the high Bitcoin transaction fee that have been really bothering the people that are investing

 

[Japhnet]

The lighting network is an innovation to the bitcoin space. The innovation of the higher transaction speed and efficiency is a thing to acknowledge.

 

[Lobardi]

Yes you are Right , there are 15+ exchanges that now offer the service of handling the lightning bitcoin payments on the protocol and the top region market is holder by the paxful so that is why they have an excellent growth in the year and they continue to expect higher growth in the coming year to be honest in my opinion .