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Lightning Strikes Twice! Litecoin Has Lightning Network Like Bitcoin. : litecoin

by altcoin247
September 11, 2022
in Litecoin
0
Lightning Strikes Twice! Litecoin Has Lightning Network Like Bitcoin. : litecoin


We are far away of using this solution in real life. Even Crypto-Payments at all is rare to find in the real world. Problems with Lightning (doesn’t matter which chain):

. You need to download the whole blockchain, no pruning possible.

. After installing the full node you need to install lightning-c on top of it which is really hard for non technical people (Solutions like Umbrel are not available for Litecoin as far as I know. And these solutions have their problems as well).

. You need to find other lightning partners to connect to. These channels need on-chain transactions to both sites, otherwise payment is only available in one direction. Even to find other nodes and convincing them to put money in the channel is hard.

. The solution is not really decentralized. Big channels kind of centralizing the network and watchtowers are needed for preventing bad actors.

. Your server has to be online and maintained all the time.

. There are already first layer solutions which are fast enough for real time transactions like XRP, XLM and Litecoin itself.

I don’t know guys I like the technical idea behind this peer to peer network but can’t really see how it can be adopted by the real world. It’s too complicated and there are more problems I didn’t even talk about.



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