Lightning Network and Polygon with a common purpose: low commissions. Which one is lower?

[soxcryp]

Lightning Network is a project that seeks to improve the speed of transactions in the Bitcoin network, through user nodes that perform their operations laterally to the blockchain, until they are completed and subsequently incorporated into the main network.

Polygon is a project that also focuses on improving operations performance, but runs on the Ethereum blockchain.

Like Lightning Network, Polygon is also a project that is in full development. Both seek to lower transaction costs on their respective networks, I'd like to know a bit about what experiences the community may have in this regard.​

 

[Dowenship]

For the lightning network, this is my first time of hearing it while that of polygon have heard of but my discouragement in using the polygon network is because its ETH based.

 

[Yusuf]

I really don't know anything about the lighting Network but I will try as much as possible to make more research on it and find out on how it works. For me I think it's a good thing how their transaction fee is regulated

 

[Nurudeen]

I have not actually used both lightning network and polygon to send a coin so I really don't know anything about there transaction fee. It's very important to know this so I will make more research about it

 

[soxcryp]

For the lightning network, this is my first time of hearing it while that of polygon have heard of but my discouragement in using the polygon network is because its ETH based.

Currently ETH is one of the most expensive in terms of transactions, however, many of the most renowned projects of the moment work on this network, such as AXS for example.

There are analyzes that estimate the possibility that in the near future, Ethereum will even surpass Bitcoin in market capitalization, one of the reasons is precisely because of these projects that are advancing strongly today.

The network itself is currently working on the implementation of ETH2, which would mean a significant improvement in its operation.
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I really don't know anything about the lighting Network but I will try as much as possible to make more research on it and find out on how it works. For me I think it's a good thing how their transaction fee is regulated

What do you know about it, do you think it would be better than the main network? What can you share about how it works?

I understand that recently Bitcoin has been working a lot on improving its internal functioning with the implementation of mechanisms that imply on greater security.
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I have not actually used both lightning network and polygon to send a coin so I really don't know anything about there transaction fee. It's very important to know this so I will make more research about it

What a pleasure friend, that's why I open this thread, because I know there are people who have been doing operations on this network (Lightning Network), and I would like to have knowledge about it, and make comparisons.

I have also had some very primary experience with the Polygon network, and as far as I have been able to see, it boasts the possibility of savings pretty close to half, compared to its parent network.

So what you can find out and share with us would be most welcome.

Have a nice day

 

[Josemendez]

Lightening network mostly focusses on scalability and this however is something that people really desire so much in their transaction. The only challenge with the lightening network is that it is confined to wallets in the network

 

[soxcryp]

Lightening network mostly focusses on scalability and this however is something that people really desire so much in their transaction. The only challenge with the lightening network is that it is confined to wallets in the network

At present, I observe that the dynamics are gradually moving towards a more decentralized market. There is a tendency for people to try to manage their own things as much as possible, distancing themselves from centralization. That's Defi for example.

So, contextualizing it with your contribution, they don't seem to be divorced from each other. Rather, they propose a trajectory towards the future.

Do you know anything about the commissions?

 

[eLdavis]

To tell you the truth, I am hearing about both for the first time, so I do not even have any experience to talk about, but like you said in your post, it's still under construction. So we can't tell for now if they would meet up to expectations

 

[GoldenLady]

It's good to see such developments on the Bitcoin network. People have already used and testified about polygon though, so it's over time that it will be seen as to which of the two is better.

 

[Dowenship]

Currently ETH is one of the most expensive in terms of transactions, however, many of the most renowned projects of the moment work on this network, such as AXS for example.

There are analyzes that estimate the possibility that in the near future, Ethereum will even surpass Bitcoin in market capitalization, one of the reasons is precisely because of these projects that are advancing strongly today.

The network itself is currently working on the implementation of ETH2, which would mean a significant improvement in its operation.
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What do you know about it, do you think it would be better than the main network? What can you share about how it works?

I understand that recently Bitcoin has been working a lot on improving its internal functioning with the implementation of mechanisms that imply on greater security.
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What a pleasure friend, that's why I open this thread, because I know there are people who have been doing operations on this network (Lightning Network), and I would like to have knowledge about it, and make comparisons.

I have also had some very primary experience with the Polygon network, and as far as I have been able to see, it boasts the possibility of savings pretty close to half, compared to its parent network.

So what you can find out and share with us would be most welcome.

Have a nice day

I just hope the ETH gas fee and transaction fee are well reduced compare to it 1.0 because if not the dream of ethereum surpassing bitcoin might not happen...

 

[Josemendez]

At present, I observe that the dynamics are gradually moving towards a more decentralized market. There is a tendency for people to try to manage their own things as much as possible, distancing themselves from centralization. That's Defi for example.

So, contextualizing it with your contribution, they don't seem to be divorced from each other. Rather, they propose a trajectory towards the future.

Do you know anything about the commissions?

Indeed more people are moving into Decentralized financial system . This is the reason why Defi projects have been given a welcomed arms than any other projects out there.

 

[Lens]

The polygon network was designed to perform better than the lightening network. In all sincerity, the polygon network is faster and cost effective than the lightening network. This evident in the transaction fee and the slower transaction speed witnessed in bitcoin. Ethereum blockchain perform better.

 

[tuna89]

The fact that ther are lower transaction costs gives a great advantage over some others, this are what some investors check before investing huge in such crypto to boost its value. Thanks for the Info.

 

[ahmedo24]

I have the plan to invest in the native token of the polygon network because I believe with patience the coin is going to be as great as binance

 

[soxcryp]

It's good to see such developments on the Bitcoin network. People have already used and testified about polygon though, so it's over time that it will be seen as to which of the two is better.

In terms of development, it seems that Polygon has the advantage, since Lightning Network so far has had a more independent character relevance from its main network; as an initiative of a collective.

Polygon, on the other hand, shows a more organizational character of growth, which far from seeming to be an adversary of its parent network (as it sometimes gives the impression with LN), on the contrary, has a projection rather strengthening the ecosystem.

I say this not to belittle the effort made by Lightning Network collaborators. Rather, it is because Polygon's progress is evident in a shorter period of time, and the greater coverage it is already showing.

It is a pity that even though LN has more time in development, there are still many people who do not know of its existence and purpose, this in part, possibly because of the limitations of its accessibility and use.
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This is precisely what I want to be informed about, how much difference there is (percentage-wise) in commissions between a transaction made on Lightning Network and one made on Polygon.

I appreciate the information

 

[Ruth]

This is actually the first time am hearing of lightning network , I didn't even know that it existed till today. And I have a problem with polygon because it's ethereum based alone. Thanks for bringing up lightning.

 

[soxcryp]

This is actually the first time am hearing of lightning network , I didn't even know that it existed till today. And I have a problem with polygon because it's ethereum based alone. Thanks for bringing up lightning.

Polygon still comes at a cost, but compared to its parent network, commissions are much improved.

In any case, it is true, there are still more attractive options for our transactions.

 

[Ruth]

When it comes to development, polygon network has an edge over lightning network, because lightning network only deals with ethereum, so it's quite limited. On the other hand polygon has more options.

 

[soxcryp]

When it comes to development, polygon network has an edge over lightning network, because lightning network only deals with ethereum, so it's quite limited. On the other hand polygon has more options.

It is true, Polygon offers more possibilities at the present time compared to LN.

You should know that Ligninght Network is a project that develops the possibility of improvement in BTC. While Polygon is developed on Ethereum.

Lightning Network is basically a Blockchain parallel to BTC, where transactions are made between the members of that "channel", once finalized, they close the same, and it is then when these transactions are notified to the main chain.

 

[Ceeny007]

I think ripple has the fastest block chain transaction time,I'm waiting for Elon musk to do something about Doge,as he posted on Twitter that everything is under control