Lightning network is the real Bitcoin Cash.

Lightning network is the real Bitcoin Cash.

LN capacity is expected to cross the 500,000$ landmark in the next week or so.
At the time of writing, LN is standing on 72 BTC (450,000$) of value constantly transacting on the lightning main-net.
The network which is currently constructed from 2755 nodes, with around 2000 of them having an active channel open is continuing its impressive growth rate, but what does that really mean and how is this related to Bitcoin Cash?

An active channel is basically a valid commitment between 2 parties locking up funds. The locked up funds are the 'open payment channels' which we consistently hear about. Those channels which are fully 'confirmable' and public on the bitcoin blockchain are now part of the 2nd layer network.

Once a channel is up on the main-net, transferring value is no longer exclusive to the bitcoin blockchain, miners no longer have any saying regarding who gets in, who gets left out and what is the price of getting your transaction inside a block.
It is very important, even critical to note that LNBTC is BTC, it is the equivalent of paying out hard cash to a person instead of an 'official' bank transfer. Once you wish to settle the tab because you accumulated or spent too much 'cash' you just head out to the bank to deposit or withdraw it.
The lightning network is identical in a way that the bank is basically the blockchain and the cash is the commitments you received or handed out via channels on the network hence, in fact, LIGHTNING BTC is the real Bitcoin Cash... how ironic.

Let us know what you think about LN being the real Bitcoin Cash in the comments below and don't forget to follow @NeverFiat on Twitter for more gems and updates.

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