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

[soxcryp]

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

I am aware that Ripple's transaction cost is quite competitive as well. I didn't know about the transaction speed, thanks for the tip.

Elon and other major players are working on that (Doge). Patience.
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Catching up, I learned that the P2P cryptocurrency exchange, Paxful, integrated Lightning Network into its platform, which makes it possible to send and receive BTC in a matter of seconds and with much lower fees than existing transactions on the blockchain.

 

[Suba]

Although I have never tried the Lightning Network, but to my knowledge, the Lightning Network (LN) is built on top of the Bitcoin blockchain network, allowing transactions to be faster between 0-1 seconds. and you can try Lightning Network on Atoken Wallet. As for Polygon, I don't understand what you mean is it Polygon Matic (a cryptocurrency) or something else.

 

[GoldenLady]

I

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

Polygon network is definitely still faster than the Ethereum network despite the upgrade. But Ethereum has already established itself and that will be hard to beat.

 

[Monster Masterpiece]

I

Polygon network is definitely still faster than the Ethereum network despite the upgrade. But Ethereum has already established itself and that will be hard to beat.

But it depends of earning websites on how they pay so Polygon rewarding sites are much more than ethereum one due to cost and validation network time and popularity of polygon despite of ethereum one.

 

[soxcryp]

Although I have never tried the Lightning Network, but to my knowledge, the Lightning Network (LN) is built on top of the Bitcoin blockchain network, allowing transactions to be faster between 0-1 seconds. and you can try Lightning Network on Atoken Wallet. As for Polygon, I don't understand what you mean is it Polygon Matic (a cryptocurrency) or something else.

Matic is the native cryptocurrency of the Polygon Blockchain. This blockchain despite running on Ethereum has lower transaction costs. But anyway I think that LN can be cheaper, the problem is that the Polygon network gains in accessibility.

It is what I have been able to understand in my studies about it up to this moment
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I

Polygon network is definitely still faster than the Ethereum network despite the upgrade. But Ethereum has already established itself and that will be hard to beat.

I have heard from Lightning Network operations that their transaction cost has been free or almost free, which Polygon is still a long way from.

If you want more information about this, I invite you to read, for example, about the adoption of LN in Bittrex and its alliance with Strike.

 

[Blessedsam60]

Oh! Thanks for this information. I have never heard of this two projects before, lightning network and polygon. Although I have been wondering how crytocurrency transaction could be fasten enough

 

[Oliver4smile]

This is a good post with great insight into what polygon is. I am still a learner and so I appreciate your effort and time spent researching this topic before you could post it in this thread.

 

[Nomad]

When you say Polygon, do you mean to say Polygon Mattic? I know bout Mattic even though I have not invested in Mattic yet. Lightning network will definitely improve bitcoin use as a payment system.

 

[Ezekiel]

Well for the polygon network it is more preferable than lighting as it tends to lower cost of transaction,and increase profit though it is not favourable to all because of it's entherum based

 

[Dagm1]

I don't know much about the lighting network, but I'll do my best to learn more about it and how it operates. I believe that the way their transaction cost is regulated is a positive thing.

 

[Ub40]

I can't really say anything about lightening network or polygon as I have not used any of them before, but I am willing to learn how it works from the comments of different talented individuals of this forum as there are so much to learn here and not just making money alone. That is just my take. Thanks for sharing.

 

[Justin]

I have heard of Bitcoin Lighting Network, but did not know what exactly was this lighting network. Thanks for explaining this in simple English. I have also not heard of Polygon. I will have to do more research on this

 

[HayKay]

I think polygon is the faster of the two and it's due to a major factor that it has been adopted on a good framework and is well more developed than that of lightning.
I think those developers working on the lightning project need to do more.

 

[Kaffyfolla]

The lightning network is a second layer technology applied to bitcoin that uses micropayment channels to scale its blockchain’s capability to conduct transactions more efficiently. Transactions conducted on lightning networks are faster, less costly, and more readily confirmed than those conducted directly on the bitcoin blockchain

 

[Grandeur]

Apart from low transaction fees, it's also important to use a network with lightening speed which is why I prefer the polygon project and not just me, a lot of new projects build on polygon.

 

[greenie]

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

 

[GoldenLady]

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.​

People especially whales prefer Bitcoin. It's quite clear that this will make it a more favourable investment over a long time frame. It also depends on which transactions one wants to carry out and the tokens to be used.

 

[Ononivami]

I have not used any of them but from the news articles, it seems the polygon transaction fee is lower and even faster than the bitcoin lightening network. The polygon platform was designed to address these issues.

 

[Sincerem]

There has been several innovations which hopes to improve the rate of transaction and the quality of the crypto currency market and blockchain technology. This lightening network is a good start to make transaction in the crypto currency market more faster and time efficient.