Lightning Networks may shine on 2021 depending on how the implementation and adaptation of various websites and wallets. As of now, only a few wallets implements Lightning Network on their platform and one of them is Electrum which is a famous bitcoin wallet. Once certain platforms adapted and used LN network, we can hear more information and knowledge regarding it. With the right direction, I can see LN be commonly used on 2021.
I expect major Gambling and Exchange Platforms be adapting Lightning Networks on their platform for a better and faster transaction inside and out.
Topic: Will 2021 become the year of the Lightning Network? - page 3. (Read 664 times)
Unless there is an enormous education campaign, 2021 will NOT be the year of the LN.
Most people are not aware of LN, not aware of how LN functions and how can they use it, benefits and so on.
Most people are not aware of LN, not aware of how LN functions and how can they use it, benefits and so on.
I don't think it;s happening anytime soon although Electrum has implemented LN. Very few people are aware of what LN is and how it works and most of them are aware of based on article, information given. Only a little amount of users have tried it. Therefore, it will take time to be popular among everyone. Before that, it's more important to have acceptance of LN everywhere. People will only find it useful once it's accepted in everywhere and you know very few merchants accepting bitcoins have implemented LN and I'm sure most of them don't know what LN is; the same happened with the segwit, still not used by everyone.
As Bitcoin's fees skyrocket, more people will find themselves obliged to look for an economic alternative for sending cross-border payments. The price in Fiat (USD) relative to fees denominated in BTC, makes Bitcoin impractical as digital cash for micropayments. Buying food or other daily necessities directly with Bitcoin will no longer be economically viable for the average person.
Fortunately, the Lightning Network is under heavy development to become the default scalability layer for Bitcoin micropayments. While it's still experimental, the development team behind it has worked hard to make it as practical as possible for everyday people. Some security issues here and there need to be addressed though, for the Lightning Network to experience a huge boost in mainstream adoption. With Bitcoin's fees increasing towards unprecedented levels, it seems to me that 2021 will become the year of the Lightning Network. That is if Bitcoin's price in Fiat continues to rise all the way to the moon. Yet, it may still be early to tell given that the LN is still in its early days.
Thoughts?
Fortunately, the Lightning Network is under heavy development to become the default scalability layer for Bitcoin micropayments. While it's still experimental, the development team behind it has worked hard to make it as practical as possible for everyday people. Some security issues here and there need to be addressed though, for the Lightning Network to experience a huge boost in mainstream adoption. With Bitcoin's fees increasing towards unprecedented levels, it seems to me that 2021 will become the year of the Lightning Network. That is if Bitcoin's price in Fiat continues to rise all the way to the moon. Yet, it may still be early to tell given that the LN is still in its early days.
Thoughts?
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