Topic: [DISCUSSION] Lightning Network Explained by finaleshot2016. ⚡ - page 2. (Read 596 times)

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Introduction

I wanted to discuss something new because I'm trying to open some topics that we should know and will encourage people to be active again here. We all know that scalability is the main problem since the release of Bitcoin.
In the quoted above, that is said by James Donald is referring about scalability na isa sa pinaka-problema sa bitcoin lalo na't dumadami ang user at lumalago ang community natin.




Ano ba ang scalability na tinatawag pagdating sa bitcoin?

Ang bitcoin scalability ay ang limit ng mga transaction na kayang i-process sa bitcoin network o ang tinatawag natin na blockchain. Alam na rin naman natin na limited lang yung blocks every minute at isipin mo na sobrang dami na ang nagta-transact sa blockchain natin.


So imagine, nagtataka tayo bakit ang bagal ng transaction ng bitcoin without knowing this kind of fact. Sa dinami-daming bitcoin user kabilang ka, naging congested na yung network kaya nagkakaroon ng mabagal proseso, that's why they're having a high amount of transaction fee. Gets ba? S


How the bitcoin will compete to the other platforms kung 7 lang naman ang kayang transaction bawat minuto? So dito na papasok ang Lightning Network.



Ano ang Lightning Network?

Before we go to Lightning Network, I just wanted to show a simple analogy na kung saan mae-explain ang current na kalagay ng Bitcoin Network or Blockchain.

For example, In the delivery service of an online shop.

Sorry sa analogy ko pero sana maintindihan niyo.

So this is how bitcoin network works, maraming proseso, maraming nodes, maraming dinadaan bago ma-complete yung whole transaction. So Basically, maraming involved na tao at platforms dahil lang sa iisang order mo sa Online shop. Ganyan ka-complex ang Bitcoin Network, ngayon gets mo na?

Through this analogy about Blockchain, mas maeexplain ko ng maayos ang Lightning Network. So ganito nagwowork ang Lightning Network;


Paano nangyari yon? It looks impossible pero if lahat ng tao ay interconnected to each other kahit na madaming proseso, it will be just take a little amount of time dahil sa Lightning Network. All of this will be made into a single transaction only.  


Paano gumagana ang Lightning Network?

Sa isang transaction lalo na't sa mga malalaking kumpanya na may partnerships sa ibang kumpanya, kung kinakailangan nilang mag-send ng btc dahil sa negosasyon, ang gagawin nalang is to create a channel in the Lightning Network. So ang Lightning Network ay nakakabawas ng load sa main blockchain.

So another analogy ulit about Lightning Network.
Gamitin nating halimbawa si coins.ph since isa siya sa pinakasikat na platform sa ating bansa.


If ever na gusto makipag-transaction din ni Platform/Company_1 kay Platform/Company_2.


Hindi na need gumawa ni Platform/Company_1 gumawa ng panibagong payment channel sapagkat pwede niyang padaanin ang BTC through payment channel nila ni coins.ph at maididirect ito sa Platform/Company_2. Gets ba?

Instead of creating a lot of active payment channels, pwede mong padaanin sa active payment channel ng kakilala mo na mayroong active payment channel sa gusto mong padalhan. Gets ba ulit? Ganyan ka interconnected ang Lightning Network and only 2 transactions have been made because of that. It can be made by creating multisignature wallet, at yung wallet na yon ay may access ang both party. They must also signed using private keys kung mayroon man silang kinukuhang pera sa channel na iyon at makukuha niyo lang ang pera once nag-closed na yung payment channel at matatanggap niyo yung pera base sa balance sheet na na-signed niyo using private keys.