To whoever that guy who said “Lightning is too slow.” yeah, show me a decentralized altcoin that can do this and scale at the same time.

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The lightning network proposed to solve the scaling problem by creating a second layer on bitcoin’s main blockchain. That second layer consists of multiple payment channels between parties or bitcoin users. A lightning network channel is a transaction mechanism between two parties. Using channels, the parties can make or receive payments from each other.

These transactions are processed differently compared to standard transactions occurring on bitcoin’s blockchain. >!They are only updated on the main blockchain when two parties open and close a channel.

Between those two acts, the parties can shift funds between themselves endlessly without informing the main blockchain about their activities!<. This approach dramatically speeds up a transaction’s speed because all transactions are not required to be approved by all nodes within a blockchain. Individual payment channels between various parties combine to form a network of lightning nodes that can route transactions among themselves. The interconnections between various payment channels result in the Lightning Network.

No1 thinks this makes it even easier to fake numbers and manipulate markets from big exchanges etc ?i mean if you use lighting network through a big exchange to buy coins once in a while unless you close your channel with them it can be hidden that these coins ever left the exchanges wallets ON chain.. which means they can act as if they have more coins than they really do which reminds me of the western banking system

Edit* maybe i havent understood something right so please inform me about mistakes


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