Bitcoin has a huge scaling problem—Lightning could be the solution | Ars Technica


26 bookmarks. First posted by emerysnyder february 2018.


Three startups are getting ready to launch one of the most ambitious and important cryptocurrency experiments since the creation of bitcoin itself. via Pocket
Pocket 
february 2018 by driptray
The Lightning network could enable much cheaper and faster bitcoin payments.
Three startups are getting ready to launch one of the most ambitious and important cryptocurrency experiments since the creation of bitcoin itself. Called Lightning, the project aims to build a fast, scalable, and cryptographically secure payment network layered on top of the existing bitcoin network.
Essentially, Lightning aims to solve the big problem that has loomed over bitcoin in recent years: Satoshi Nakamoto's design for bitcoin is comically unscalable. It requires every full node in bitcoin's peer-to-peer network to receive and store a copy of every transaction ever made on the network.
Initially, that design was vital to achieving Nakamoto's vision of a fully decentralized payment network. But as Purdue computer scientist Pedro Moreno-Sanchez told Ars, it creates a big challenge as the network becomes more popular. "We have reached a point where it's not suitable any more to keep growing," he said.
Lightning could offer a way out of this bind. It shifts routine payments outside of the blockchain, clearing away the most significant obstacle to bitcoin's continued growth.
blockchain  bitcoin 
february 2018 by rgl7194
Bitcoin’s Lightning network, a deep dive via Instapaper http://ift.tt/2E19nYW
IFTTT  Instapaper 
february 2018 by jonathan
Bitcoin payments are asynchronous—Lightning isn't Enlarge skyseeker All you need to make a conventional bitcoin payment is the recipient's address. The sender…
from instapaper
february 2018 by cspathis
Bitcoin payments are asynchronous—Lightning isn't Enlarge skyseeker All you need to make a conventional bitcoin payment is the recipient's address. The sender…
from instapaper
february 2018 by wtd
This lightning network / payment channel explainer by is really excellent. ht
from twitter_favs
february 2018 by fkbarrett
A deep look at Lightning and how it may mitigate Bitcoin's scaling problem by creating a new protocol level on top of Bitcoin to make payments faster, cheaper
february 2018 by joeo10
<<A growing number of bitcoin enthusiasts believe that Lightning is the future of the network.>> http://ift.tt/2E19nYW #btc
ifttt  facebook 
february 2018 by jikatu
Bitcoin payments are asynchronous—Lightning isn't Enlarge skyseeker All you need to make a conventional bitcoin payment is the recipient's address. The sender…
from instapaper
february 2018 by nzeribe
Three startups are getting ready to launch one of the most ambitious and important cryptocurrency experiments since the creation of bitcoin itself. via Pocket
IFTTT  Pocket  feedly 
february 2018 by schmitz
Bitcoin payments are asynchronous—Lightning isn't Enlarge skyseeker All you need to make a conventional bitcoin payment is the recipient's address. The sender…
from instapaper
february 2018 by toph
Three startups are getting ready to launch one of the most ambitious and important cryptocurrency experiments since the creation of bitcoin itself.
Archive  Pocket  feedly  ifttt 
february 2018 by brokenrhino
Bitcoin payments are asynchronous—Lightning isn't Enlarge skyseeker All you need to make a conventional bitcoin payment is the recipient's address. The sender…
from instapaper
february 2018 by sgerhard
via Starred items from BazQux Reader http://ift.tt/1cAKc9M and IFTTT
Starred  items  from  BazQux  Reader 
february 2018 by stinkingpig