RE: The "Keys" in Bitcoin that Everything Depends on + Insightful Comments get YOU 100SP~
Hey man great post!
Most of all since it shows your vast knowledge on this so I got encouraged to ask you this question I have:
How does the lightning nodes routing payment technology works? meaning, I heard a lot that the payment channels are like a smart contract between 2 bitcoin private keys, so if that's the case what's underneath the technology of the nodes that enables payment to go through them to find the wallet that is receiving the payment?
It's a 2 part question since what I'm trying to find out is if big companies will be able to develop a bandwidth shaping technology as they have done so in the case of ISP with the internet to limit the bandwidth of the lightning network nodes and hence hijack bitcoin and manipulate it as ISP are doing with the internet ?
here is my post about lightning https://steemit.com/bitcoin/@ddangerwu/understanding-lightning-in-simple-terms-and-what-it-means-for-you-get-100sp-delegated-to-you
Ok cool, I'm going to check that.
Edit: I just watch it and you don't explain my question, beg your pardon if you find my to demanding, but just to let you know that video doesn't explain how the technology itself of routing payment through LN works.
Thanks for your efforts in explaining this to the newbies anyways man, I'm on a different level of knowing this, again excuse me if I sound arrogant, it is what it is but I know you know more than this, the one that can explain in simple terms see a big picture.
So, I'm going to take a look at this document, is from 2016 but probably has the answer I'm looking for, if you have time you can read it too and probably make a post about it summarizing your thoughts on it:
http://bitfury.com/content/5-white-papers-research/whitepaper_flare_an_approach_to_routing_in_lightning_network_7_7_2016.pdf