Have you used Lightning yet? How did it go?

Xynerise

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Quote from: vincentbeth934 on April 02, 2018, 10:58:34 AM

So does this mean that it still uses the same 'batching' method as some exchanges are already doing? Not complaining but I thought transactions get instantly confirmed with lightning.

No, Lightning Network transactions are different from transaction batching.
A lightning channel is a multisig address with pre-signed spend transactions that you change everytime you transact over it.
In fact they don't take place on the blockchain at all (only the channel opening and closing do), that's why they are fast.
This is a good FAQ on how the Lightning Network works.

vincentbeth934

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Quote from: Nathan047 on April 02, 2018, 10:54:18 AM

Quote from: nicosey on April 01, 2018, 07:02:35 AM

From my understanding you need to run a bitcoin node while running lightning?

Yes, I believe so. The difference is that the node will account for the transaction but not submit it to the blockchain until it can do so with a bunch of other transactions, that way the fee is much cheaper.

So does this mean that it still uses the same 'batching' method as some exchanges are already doing? Not complaining but I thought transactions get instantly confirmed with lightning.

Nathan047

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Quote from: nicosey on April 01, 2018, 07:02:35 AM

From my understanding you need to run a bitcoin node while running lightning?

Yes, I believe so. The difference is that the node will account for the transaction but not submit it to the blockchain until it can do so with a bunch of other transactions, that way the fee is much cheaper.

nicosey

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From my understanding you need to run a bitcoin node while running lightning?

bob123

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Quote from: hugeblack on March 30, 2018, 05:01:08 AM

I'm not sure about that but I do not think we will need to download the entire network of blockchain when we use the lightning network.

If you want to open a channel on the lightning network you need to have the full blockchain stored.

But there will be lightweight clients to access the LN, for sure. Just like it was with wallets.
To have a synced wallet on your PC you need the blockchain. Or you rely on a 3rd party to give you the information you need.

The same applies to the LN. To open up a channel without the need of trusting anyone, you need the whole blockchain.
But if you rely on information from 3rd party server you can use a lightweight client (e.g. https://github.com/mit-dci/lit).
Note, that this client is still being developed and every software on the LN should be used carefully.

yojodojo21

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Quote from: Nathan047 on March 29, 2018, 11:07:08 AM

I keep hearing that Lightning is live now (although not very well adopted yet). Have you used it yet (even just to test it), and if so how did it work and what are the steps you would need to take in order to use it?

Base on my evaluation. The statement of the reply posts in this thread seems like saying that lightning network is not yet stable, it's picky to different Operating system so if ever OP is attempting to use or learn about Lightning Network then a suggestion is you can get back after months or let's say years for the stabilitity of use of Lightning Network. If you Op see a 70 out of 100 % sure, saying that LN is functioning well then you can jump to it. As it is.

BenRickert

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Quote from: hugeblack on March 30, 2018, 05:01:08 AM

I will tell you about my personal experience with lightning network and Zap-Desktop App:
1. Installation of App: used Windows 8.1 operating system, installation took about 12 minutes.
2. Zap interface: the interface of this application is already attractive and is characterized by ease.
3. payment channel: I bought some free testnet BTC and after the confirmation process I was able to open a channel(Peers ---> Add new peer ----> channels ---> create a payment channel)
4. receive payments: click "payment request".

I'm not sure about that but I do not think we will need to download the entire network of blockchain when we use the lightning network.

Based on the White paper, you will not.

hugeblack

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Buy/Sell crypto at BestChange

I will tell you about my personal experience with lightning network and Zap-Desktop App:
1. Installation of App: used Windows 8.1 operating system, installation took about 12 minutes.
2. Zap interface: the interface of this application is already attractive and is characterized by ease.
3. payment channel: I bought some free testnet BTC and after the confirmation process I was able to open a channel(Peers ---> Add new peer ----> channels ---> create a payment channel)
4. receive payments: click "payment request".

I'm not sure about that but I do not think we will need to download the entire network of blockchain when we use the lightning network.

Xynerise

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Quote from: Stonetium on March 29, 2018, 05:42:02 PM

Dumb question...can you run your setup as a miner and as a lightning node...or it still the same thing?

They are different things entirely.
Miners exist on the base layer, there are no miners in the Lightning Network layer.
In fact you do not need miners at all when using the Lightning Network until settlement.

Stonetium

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Quote from: cellard on March 29, 2018, 12:27:08 PM

I tried to run a node on my linux setup and it was not possible for me. It kept crashing. I think I compiled everything properly but it didn't work.

I managed to make it work on my windows setup but never got around doing actual transactions. I think I tested on testnet buying some coffee cups on this website: https://starblocks.acinq.co/

Im not going to bother for now, I don't have enough time but I will get into it, and meanwhile it will get more refined. Don't risk any bitcoins that you cannot afford to lose on mainnet.

Dumb question...can you run your setup as a miner and as a lightning node...or it still the same thing?

jrian

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already trying to understand how its works. Few days ago setup node on mainnet. And successfully paid 145 satoshi somewhere for test

It's working, but I'm not sure I'm ready to transfer all my satoshi to Lightning network today.

you can see nodes&channels map and statistics here https://lnmainnet.gaben.win/

cellard

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I tried to run a node on my linux setup and it was not possible for me. It kept crashing. I think I compiled everything properly but it didn't work.

I managed to make it work on my windows setup but never got around doing actual transactions. I think I tested on testnet buying some coffee cups on this website: https://starblocks.acinq.co/

Im not going to bother for now, I don't have enough time but I will get into it, and meanwhile it will get more refined. Don't risk any bitcoins that you cannot afford to lose on mainnet.

Nathan047

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I keep hearing that Lightning is live now (although not very well adopted yet). Have you used it yet (even just to test it), and if so how did it work and what are the steps you would need to take in order to use it?

Topic: Have you used Lightning yet? How did it go? (Read 256 times)