@IndigoRed
just about everything that you said here is wrong!
Once implemented, Bitcoins transaction fees will be drastically reduced and we will have almost-instant transactions.
- LN is already implemented
- LN may indirectly help
keep transaction fees low like how low they currently are but it won't be decreasing it "drastically".
- we will have almost instant transactions on LN not on main chain.
The Lightning Network wont require miners to validate transactions,
true only about transactions that happen on LN but LN still needs on-chain transactions to open and close channels so it does require miners.
not to mention that miners don't validate transactions, they just find blocks. nodes do the validation and in case of LN, the LN nodes will do the validation.
and so transactions can be carried out offline
completely wrong. everything is still online but on a different "layer".
Removing the need for bitcoin miners...
again LN does NOT remove need for miners.