Technology

37742 readers

497 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

Opinion | Don’t Get Fooled Again by Crypto (www.nytimes.com)

submitted 3 months ago by [email protected] to c/[email protected]

68 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 3 months ago

Lightning Network is not centralized, anyone can run a node with their own wallet. Not everyone will want to, since there are management and safety tasks involved, but that's up to each one.

Funds are stored in your own wallet... but again, you can use some bank's wallet if you want to, up to each one.

Transactions are almost instantaneous, no need to wait for the channels to settle. You only need to wait when moving Bitcoin between non-LN and LN wallets or, if running your own node, when a channel closes.

You can find a list of physical stores accepting LN... mostly in El Salvador, but still.

https://en.m.wikipedia.org/wiki/Lightning_Network