Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[crypworld]

Former Twitter CEO Jack Dorsey announced that his team at Block are planning to build their TBD business on Bitcoin Lightning Network. Product designer engineer at Block, Nick Slaney mentioned the new infrastructure would help to speed up global payments at very low cost using lightning network. They would be partnering and building the model what Cashapp and Spiral have adopted using lightning.

Yes, enough of these high transaction fees. We are all waiting for a payment module where we can make transactions around the world without worrying about the huge cost incurred. Aren't we?

 

[Horia_10]

It is indeed better if we whole network could switch and people could buy anything from lightning because that should be the standard of payments now , the market has fallen enough now and people can't pay 10% of fees for a $100 transaction via the bitcoin chain , So this is a much needed and a welcome development .

 

[fiery phoenix]

A great development for crypto and it will be positive for crypto market scalability issues.The old cryptocurrencies like bitcoin and ETH did not focus on scalability when they were created but on creating a currency and the scalability issue was given very little attention.I like how lightning network brought a quick solution to that and what sound more promising is that companies now want to build their business around this network

 

[Horia_10]

Lightning network is the future of Crypto as it can process thousands of dollars in its chain with under a cent of fees which is a significant advantage of using the chain vs the main chain and time is saved as well , not many exchanges use it at the moment , but it is just as safe and same as the normal chain bitcoin actually indeed .

 

[Wisdom01]

with the huge amount been paid for fee on Bitcoin network ,I would really love it if lightening network is actually gaining that attention so that the Bitcoin fee could get reduced ,as people would place concern on the lightening network ,it would reduce the transaction load

 

[Horia_10]

Definitely the lightning network has the capacity of transferring upto 20) btc per transaction and I have seen transactions upto 675 btc processed on by the nodes for under $0.03 fees which is great and therefore you have to analyse that thing and save your money on using the lightning transactions .

 

[Wisdom01]

Definitely the lightning network has the capacity of transferring upto 20) btc per transaction and I have seen transactions upto 675 btc processed on by the nodes for under $0.03 fees which is great and therefore you have to analyse that thing and save your money on using the lightning transactions .

exactly what I am doing , although is still want more exchange platform like binance to adopt it in it's platform , because that's particularly what would contribute in increasing the useage of the lightening network ,even if the useage is really low at the moment tho

 

[Horia_10]

The usage is not really low though because more than three top centralized exchanges. Are accepting it at the moment and more than five have a plan to accept it in the near future , So this is great beginning for the lightning network actually .

 

[Wisdom01]

The usage is not really low though because more than three top centralized exchanges. Are accepting it at the moment and more than five have a plan to accept it in the near future , So this is great beginning for the lightning network actually .

we need more not just three centralised or few exchange platform ,we need popular ones to adopt the lightening network , because I feel that's the only medium we could see the growth of litecoin in a while ,when the use of it Skyrocket like this ,it's good for the development of the exchange platform

 

[u2much]

THAT WILL BE A VERY NICE PROJECT IF HE CAN EMBARK ON IT,IT WILL HELLP A GREAT DEAL BECAUSE WE HAVE VERY FEW BITCOIN PROJECTS AVAILABLE SO THIS ONE WILL REALLY HELP ALOT

 

[Horia_10]

I do not think there is a lightning version for the litecoin at this moment and the one Crypto that has it is Bitcoin only at this point , Even if it happens then ltc is moving towards becoming a privacy coin , so exchanges especially ewallets would not accept it as they have to comply with the regulations but we have to still see things actually closely from every aspect of the developing market .

 

[fiery phoenix]

Lightning network came at the right time.Imagine the blockchain congestion in the markets in the times of long bearish runs where people have to sell their coins or even times when people want to buy.Paying high fees for a transaction thats going to take an hour would be very frustrating as we expect high fees to offer high speeds but thats not the case.Lightning network is a quick fix to all of this.

 

[Horia_10]

Indeed and the cost of the transactions being fixed at under a cent is the reason why companies and now people as well have started to accept the payment from lightning network and more than 199+ top brands accept the lightning payments now so the growth is much higher than predicted for the lightning network and at a good speed and scale in market

 

[Balint098]

Now that's new. I hope the best luck for Jack and his new endeavor. This will surely benefit all crypto users out there. Also, on the other hand, Elon Musk, who is in the process to buy Twitter is already planning to integrate crypto payment system to the platform.

 

[fiery phoenix]

I love the fast acceptance of the lightning network by companies but we are yet to see large acceptance by exchanges.As of now the two biggest exchanges in the world,Coinbase and Binance do not yet support Lightning network and are not looking to any time sooner.But other big exchanges like Kraken and Bitfinex now support it

 

[Josemendez]

If he can't achieve this, he will benefit from it shortly because when the global adoption of Bitcoin comes into play, there will be huge transactions that may affect the scalability of the Bitcoin network. At this point , a lightening network will be the solution to the scalability issue. I know very well that when he sold Twitter to Elon Musk, he has a good reason for doing so. I wish him luck and I know his lightening network will attract people easily because he has built a good name for himself already.

 

[Horia_10]

Definitely binance can accept it , but lightning btc has a capacity to route maximum of 625 btc per transaction , So you can't ignore this fact and therefore you always need to increase limits or if binance wants to incorporate that they they will need to set a limit of around 100 btc for deposit and 50 btc maximum for the withdrawal through the network actually .

 

[Dagov]

An extraordinary improvement for crypto and it will be positive for crypto market versatility issues.The old digital currencies like bitcoin and ETH didn't zero in on versatility when they were made yet on making a cash and the versatility issue was given next to no attention. I like how lightning network carried a speedy answer for that and sound really encouraging that organizations currently need to construct their business around this organization.

 

[Horia_10]

That's right the fees used on this blockchain is very less and also the transactions are instant just like xrp which has fastest transactions in one seconds only and so both are great options in Crypto sphere for making payments and also holding or sending funds using low fees options .