Charlie Lee: Lightning Network fully corresponds to the original idea of Satoshi Nakamoto
Source:
Yesterday in a series of tweets Charlie Lee explained the difference between transactions of Bitcoin and Litecoin. Mini-lecture the Creator of Litecoin took place almost immediately after the debate Whether and Roger's Faith in Twitter account.
theWhat is Bitcoin different from Litecoin
In the first tweet, Charlie Lee explained the basic differences.He noted that oncein payments in Bitcoin and Lidoine do not work on the principle of peer-to-peer. Coins are sent from users to miners, who then records the transaction in the blockchain. The recipient receives the crypt only when it is recorded in the blockchain. However, this whole process is possible thanks to p2p networks, where distributed transaction.
Lee also touched upon some aspects of peer-to-peer transactions.
The Network works on the principle of p2p, but the p2p cryptopedia not. The sender can bypass the network and directly passed to the miner your coins. Theoretically it does not need to use Bitcoin to make transactions!
The Developer has offered an alternative version of the process. In his opinion, from the transfer of cryptocurrency to exclude even the sender.
It is good that the recipient need not be online to receive coins. The irony is that oncein payments make up some hubs that can connect users to send/receive bitcoins.
Then Lee spoke about the peculiarities of Lightning Network, which is also a p2p-network.
On the other hand, LN-payments based entirely on the principle of peer-to-peer. In this case, both the sender and receiver must be online to make a transaction. By a similar principle works BitTorrent.
It is Noteworthy that the Lightning Network do not need to rely on a third party (miners and other participants in the process).
Since LN is a peer-to-peer network payments inside it can be carried out, even if its individual components are disconnected from the Internet. The sender can deliver the crypt to the recipient even on direct connection without the intervention of a third party.
In the end, the Creator of Litecoin noticed that Lightning Network is fully consistent with the original vision of Bitcoin Satoshi Nakamoto. The principle of operation LN fits header Wallpaper cryptocurrency «A Peer-to-Peer Electronic Cash System».
The Lecture Charlie, or picked up at .
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
The number of empty blocks in the network Ethereum increased by 637 percent before hardforum
In the last three months the number of miners empty blocks of Ethereum has increased dramatically. It happened after the developers announced the exact date for the hard forks . According to the senior scientific employee of the ...
In the cryptocurrency market has many successful projects — among them Bitmain, Circle and many others. But there are bad examples. It seems that soon their ranks will include Dan Morgado Fund Pantera Capital Management, the asset...
Will increase if the volatility of Bitcoin? The answer of experts
the Volatility of Bitcoin at the lowest level in the last 17 months. The reason — the lack of important news and low trading volumes. Some investors even believe that this evidence «formation» of the stock market. Howeve...
$ 2,000 for nine months. Three dollar Monero from analysts
Altcoins focused on privacy, has gained immense popularity not only among the scams, but also among ordinary traders. That is why recently on Tradingview there are many interesting predictions of the price movement . The three mos...
Summing up: what happened this week for Ethereum?
the Price of Ethereum still konsolidiruyutsya trading in tandem with the dollar. However, while there is still a chance for a small correction to the level of 214 dollars. the Overall situation looks like this: the the asset trad...
Today remembered the fight, McGregor and Nurmagomedov and the fight after it. The week before was no less exciting. Russian miners learned of a possible increase of tariffs for electricity and taxation. Other market participants u...
Summing up: what happened this week on Bitcoin?
Bitcoin is trading above $ 6,400 local in a symmetrical triangle. To sharp price jump cryptocurrency remains very little time. the Overall situation looks like this: the the generated a strong area of support at the level of 6400...
Analyst: Bitcoin is close to the bottom, will soon begin to rise
throughout 2018 analysts many times said that it has reached its bottom. However, the expert of company Capital Blockchain Spencer Bogart believes that the first cryptocurrency only now coming closer to a good minimum, which in th...
The wind of change: 5 new trends on the stock market
Kriptonyte overcame many obstacles and went through countless tests. 2018 has not turned out as rosy as expected. However, in recent years the stock market has allocated five interesting trends. the Domination Asian China and othe...
More: how zcash for can help to expand the capacity of Ethereum
In September Vitalik Buterin that the Ethereum network that can be scaled up to 500 transactions per second. This will help the technology of ZK-SNARKS, which is used in zcash for. this week, researchers Barry Withat, Alex Gluchow...
Analyze charts: when you start to grow EOS, Litecoin, Stellar, Tron and Cardano?
the stock market is under accumulation, so that investors happy even a few percent of the profits. Yesterday the most successful investment among altcoins became Cardano, coin rose 1.5 percent for the day. Analysis of trading five...
In Australia the scammers stole 50 thousand dollars through a fake Bitcoin ATM
Scammers in the field of cryptocurrencies, perhaps even more creative than the developers of the coins. They come up with many ways to steal money outstanding on the market — and often they do it. For example, in Australia, the at...
First blood: large-scale Bitcoin bug caused the theft of 235 million coins PGN
Pigeoncoin (PGN) is a small coin, which is traded on two little-known cryptocurrency exchanges. Finally she became famous in the crypto community. Recently, developers have reported the elimination of a bug CVE-2018-1744, however,...
The Creator of Bitcoin was found: in Kiev, the VR-monument Satoshi Nakamoto
Satoshi Nakamoto exists and he is now in Kiev. However, so far only in virtual reality. VR-version of the monument to the Creator of Bitcoin yesterday at the site of the monument of Vladimir Lenin, which was destroyed in 2013. The...
Analyze graphs: Litecoin fell to the bottom. It is time to buy?
the Price of Litecoin is still ranges in channel width of 20 dollars, sometimes cryptocurrency is testing the resistance level in the area of $ 70. Although the coin has a strong fundamental background for growth, bullrun will not...
Acne Buterin: Ethereum can survive my sudden disappearance
Network Ethereum «can survive» even without the contribution of the founder Vitalik Buterin. This was stated by the developer, noting that he «separates» himself from his creation. the Life after acne In some o...
In the last 24 hours the share of transactions processed through Segregated Witness (SegWit), set a new record. For the first time in the history of the use of Protocol figure exceeded 50 percent and increased from 45 to 54 percen...
Will have to wait: testing hard forks Constantinople was postponed because of the vulnerability
a day after about hard forks Constantinople, the developers of Ethereum announced the postponement of testing the updates. Constantinople will appear on testnet Ropsten not earlier than in 9 days. The reason for the delay is a vul...
Comments (0)
This article has no comment, be the first!