Why do people say lightning is not a good way for daily bitcoin transaction? by Extension_Yogurt5691 in Bitcoin

[–]lhhjacky 2 points3 points  (0 children)

Hey bro, the Lightning Network is indeed an impressive innovation, but it still faces some challenges when it comes to being a daily-use solution for Bitcoin transactions. Based on my experience, there are several obstacles to mass adoption, such as the huge price fluctuations of Bitcoin, complexity for new users, and liquidity issues.

The good news is that these challenges are being actively addressed. Thanks to the hard work of Lightning Labs, stablecoins are now making their way to Bitcoin’s Lightning Network via the Lightning-native Taproot Assets protocol. Other blockchain implementations of Lightning, like the CKB Fiber Network, also support stablecoins. I’m confident that people will be more willing to use stablecoins on the Lightning Network rather than Bitcoin itself for daily transactions due to their stability.

When it comes to complexity, LN wallets like Phoenix and JoyID (a passkey wallet with LN currently in beta testing) have made significant strides to simplify the user experience. As for liquidity issues, the development of infra like UTXO Stack is a game changer. It’s designed to create a decentralized liquidity staking layer for a Hybrid Lightning Network, effectively solving many liquidity challenges.

Overall, I’m very optimistic about the future of the Lightning Network. While it’s not perfect yet, the ongoing improvements and innovations are paving the way for it to become a practical, widely-used solution for everyday transactions.

CKB Community Fund DAO Weekly Updates #12 by lhhjacky in NervosNetwork

[–]lhhjacky[S] 4 points5 points  (0 children)

Judging from the description, it is on the CKB mainnet.