The Lightning Network Is A Side-Chain To The Blockchain of BTC
So I came across this post that talks about side-chain protocol that is a form of a blockchain that is actually running alongside the btc blockchain...kinda.
The lightning network is not a fork off of the bitcoin blockchain but rather, I think of it as it has the ability to open a portal on the blockchain allowing users to complete their transactions quicker. It must use the bitcoin blockchain to ultimately verify a transaction.
It is supposedly going to be able to keep your anonymity while at the same time allow users to make trades, especially, much faster. This side-chain protocol will also allow users to hold more of their crypto in cold storage wallets rather than hot storage wallets.
The draw back in my mind is that the line between de-centralized and centralized currency becomes very blurred. The way that the lightning network moves crypto around makes it somewhat centralized in nature, although it plugs into the bitcoin blockchain which is truly de-centalized.
I am not going to get into specifics, the post below from Bitcoin Tech will, but for sure check it out. At the end of his post you can get your own wallet started, just like I did. Check out this video below:
Bitcoin Tech: Let There Be Ligth(ning)!
Bitcoin was introduced to the world around 10 years ago and much has changed during this bubbling period. As developers promote new upgrades and better code functionality with Bitcoin Improvement Proposals (BIPs), that only get accepted if the global Bitcoin …
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Posted from my blog with SteemPress : http://bipolarmarketing.co.business/index.php/2018/07/20/a-new-side-chainthe-lighting-network/