1 upvotes, 2 direct replies (showing 2)
View submission: ⚡ Lightning Network Megathread ⚡
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments.
Do I need to be a miner to be a Lightning Network node?
No
How would the lightning network work between exchanges:
https://docs.google.com/document/d/1r38-_IgtfOkhJh4QbN7l6bl7Rol05qS-i7BjM3AjKOQ/edit
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it.
Comment by btc_throwaway1337 at 06/01/2018 at 20:07 UTC
1 upvotes, 1 direct replies
It's great news that an individual user can run a lightning node!
Any idea of the minimum hardware requirements? Would a miniPC (Atom box) suffice?
Any idea of the minimum BTC which would be useful for liquidity of the lightning network? If I ran a lightning node and contributed 0.5 BTC for example, is this enough to hold open many useful payment channels / act as a meaningful contribution to the network?
Thanks!
Comment by codedaway at 06/01/2018 at 22:11 UTC
1 upvotes, 0 direct replies
Added these to the FAQ, Thanks!