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Lightning Network Review

2

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Excellent

Revainrating 5 out of 5  
Rating 
5.0
IT Infrastructure, Blockchain Software

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Reviews

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Type of review

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…

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

Revainrating 5 out of 5

Good Solution For Off Chain Transactions

The lightning network is a layer 2 solution that allows us to transact off chain. It also has a built-in solution for atomic swaps. It is a very innovative and unique technology. The concept is a little difficult to understand at first but once you get it, it is very easy to use. The implementation of lightning network is not as easy as it should be. The developers seem to be slow in their implementation of the lightning network. They have released a new version of their software and it is…

Pros
  • Offers an alternative way
  • Can do many things without running full nodes or broadcasting transactions.
  • Works even if there are no servers around (e2ee)
  • Easy setup process!
  • Fast transaction times compared other solutions like Bitcoin & Ethereum
Cons
  • Almost everything is ok