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Review on Lightning Network by Flavio Iyer

Revainrating 5 out of 5

Decentralized Application Platform built by Ethereum

I really like that there will be many applications of the LN so it's easy to build dApps with this technology. The community is growing fast, and there are many projects with great ideas and teams. It's not clear for me if one can use it in production yet but they have many tests with different scenarios. Also, to get funds from an exchange (like Binance) one needs to send your own assets first to the exchange. So I think this could be improved. Also, I would really appreciate more guides about how to use this tech in the future, or maybe even a demo app which shows its benefits. If you want to build decentralized apps using Lightning Network, make sure you understand all its advantages as well as disadvantages. For example, the main advantage is to save time when sending transactions using Lightning,.

img 1 attached to Lightning Network review by Flavio Iyer



Pros
  • Fast
  • Reliable
  • Secure; also very cheap.
  • Abilityto create new channels easily by just sharing keys among participants without having private keystoo much neededin most other blockchains suchas Bitcoin etc.(this makes lightning network possible)
Cons
  • Zero