Lightning Network is a second-tier payment protocol that works on a blockchain (mainly for Bitcoin). Designed to securely conduct offline transactions, the lightning network essentially uses a hash time locked smart contract to securely perform a zero-recognition transaction. By setting up a clever 'smart contract', the user's unconfirmed transactions on the Lightning Network are as secure as gold (or Bitcoin). A status channel essentially provides state maintenance services between different entities by establishing a two-way channel between different users and services. It allows many operations on the blockchain to be managed outside the chain. The final result is chained after the multi-party signature is confirmed after completing the out-of-chain operation.
Bitcoin and Ethereum respectively proposed off chain protocols such as lightning network and status channel to provide support for immediate arrival and large-scale concurrent demands. But such agreements result in high transaction costs and asset liquidity issues It is both difficult to apply to small-volume high-frequency trading needs, and prevent centralization trends. Ambr's off-chain protocol differs from the lightning network in its normal state channel by introducing an observer role to punish the malicious and to ensure the benefits of both parties in a high-frequency off-chain transaction. This model has highly scalablility.
#blockchain #eth #ethereum #ether #bitcoin #ambr #crypto #cryptocurrency #altcoin #bitcoinnews
hi @ambr.global
I just accidentally bumped into your profile and I've scrolled through your old post just to realize that we seem to share a number of interests :)
In particular that we both share a similar passion towards cryptocurrencies and blockchain technology.
ps. I was wondering why you didnt mention your Steemit profilt on your website next to reddit/twitter/facebook etc?
I will follow you closely :)
Take care, Piotr