It’s tin-foil hat time! Neal and Nathan attempt to explain the mechanics of the Lightning Network, which is supposed to be a massive gamechanger for Bitcoin. It has the potential to reduce fees and transaction time which should help increase Bitcoin adoption with merchants and the masses. Not the easiest of topics to discuss on a podcast, which is why we often fell over ourselves trying to explain it.
Apart from the impressive innovation of the Lighting Network, the other reason why it is getting so much attention is due to how it is “centralized” in nature. On one hand Lightning Network transactions will happen “off chain” but will eventually end up “on chain” over time. Given how the decentralization of crypto is such a hotly debated topic, will this matter for Bitcoin’s loyal fan base, and would it matter to the masses who are coming to crypto like a stampede?
Video Link on Lightning Network:
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