RE: Meet Carol and her one day in life with Lightning / Wanchain - The future of a decentralized financial structure?
I am very excited about Wanchain. Interoperability looks like the next big thing in blockchain maybe even more important than DEXs. My only concern about Wanchain is they could be trying to do too much at once. However, this management team with large scale engineering talent may very well make Wan into a financial banking like platform of the future.
With Bitcoin Lightening Network I am very skeptical its going to work like Lightening Labs says it will. Firstly, they have to solve the computer science problem of routing that has never been done before. IDK I just have a lot of questions what is going to make users adopt it when other blockchains currently offer fast, cheap transactions on chain? Its already proven that blocksizes up to 400MB can be implemented with special node hardware.
I really like how Ethereum is approaching scaling, which is a multi-solution approach - Casper, Plasma, Sharding, and there's more. In this way users and developers can choose what suits them better. On-chain scaling is the focus with off-chain solution being just an option. In Bitcoin the developers are trying force everyone off-chain with Lightening that's not even operational yet.
Ethereum: First Casper version is here Danny Ryan, Developer of Casper FFG, has released a first release of the code on Github on May 8th. This is version 0.1.0. This should provide a clearer guideline and give clients and external auditors the ability to track the contract and changes more easily.
For Wanchain I have big hopes got into it at $ 2.90 back in March thanks to my brother he told me about WAN and to check it out. I like there ideas and as you say interoperability looks like the next big thing in blockchain technology.
With Lightning I agree with you and IDK as well what will happen with it after it's going live I guess time will tell.
Thanks for your comment and input bro have a nice day :)
Yes this is when I got in to Wan too. Every bear market is a blessing :-). If they would have launched trading in a hype cycle it would have probably traded past $10 already. I am open minded with Bitcoin Lightening Network so I am not going to write it off but I am skeptical how effective is it really going to be. Users just want fast, cheap and secure transactions. The most important thing is convenience/user friendly. If they can do it better with LN let's see, so far it looks way to complicated with a lot of issues to be ironed out before the average Crypto user will touch it, much less an average person.
Is it not similar to how BitTorrent works? I'd say that's pretty reliable.
It's more like a mesh network since payments route from hub to hub via channels. The issue I see its overly complicated to be used any time soon for a mass Bitcoin scaling solution. Those payments channels will need to build up a lot of liquidity to route properly. The other person would also need to have a lightening wallet. At this time you'll need to run your own LN node to have a LN wallet. Watch towers will also be needed for hire and several other services to be secure. I just know from running businesses and investing into tech space for quite some time its the most simplistic ideas that work the best.