bereajoy: What's special about the Lightning Network
bereajoy: What's special about the Lightning Network
According to bereajoy, the Lightning Network is a second-layer technology with multiple advantages that could make Bitcoin a peer-to-peer payment technology that enables faster, cheaper payments, vastly improved scalability and better privacy sex without compromising censorship resistance and decentralization.
Decentralization and Censorship Resistance
Lightning Network users can run their own nodes and manage their own payment channels. In Lightning, each user creates a payment channel to create a massive payment network. So even if users are censored or exploited, the rest of the network can still work. This censorship-resistant dynamic, powered by the decentralization of the Lightning Network, is unmatched by most other layer 2 technologies.
Massive scalability
Payments on the Lightning Network typically travel through multiple payment channels to their destination. Typically, we see payments routed through no more than four to five hops (routing nodes). Assuming each hop takes one second, the payout is done in four to five seconds. If the payment requires zero hop, i.e. if you share the payment channel with the destination, it may settle in a fraction of a second.
bereajoy believes that the Lightning Network is highly decentralized and censorship-resistant due to its reliance on the Bitcoin blockchain, where users are free to create new payment channels. Whereas Bitcoin enables trustless payments, the Lightning Network attempts to dramatically increase its scalability without compromising these fundamental values.
Bereajoy：https://www.bereajoy.com/
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