Comparison with other Blockchain systems: part 3. #MetaHash vs Lightning Network
It is a well-known truth that even the strongest of this world have weaknesses. And such a powerful network as Bitcoin also does. An extremely low speed of data transfer and the high cost of commissions are provoked by the huge number of transactions and the small bandwidth of nodes. The Lightning Network technology with instant payments and a practically zero commission was developed to facilitate the life of Bitcoin users. Lightning Network is a payment protocol allowing to lead instant transactions between participating nodes outside the main network. That can be a solution to the problem of bitcoin scaling. But how long?
Lightning Network can be considered as a really good concept of data transfer between several participants. If a group of participants need to exchange a lot of transfers within 1 day — this is a perfectly working system where money is stored on a multi-signature purse of all exchange participants. However, such a system has very limited usefulness. When the transfer is out of bounds of an organized group, there is no gain in speed and everything depends on the bandwidth of the main network again. I think you already know how fast the project #MetaHash is, but, we’d like to remind — 1 node of the network #MetaHash is able to process more than 100,000 transactions per second, and the transaction confirmation does not take more than 3 seconds!
In addition, the Lighting Network does not provide 100% security, because it relies only on Bitcoin safety. #MetaHash offers everything for your security — a complex system of trust ranking to the main nodes, daily installation of anchors in other networks and regular voting of all network users.
There is also a risk of transforming Lighting Network into a centralized system, which threatens the possession of data by third parties and the potential denial of transaction confirmation if the slightest disobedience to network rules takes place. The project #MetaHash provides an absolute decentralization of the network within one year after platform launching. You can determine the fate of a project, establish rules for participation and determine the further development of the system. Everything is in your hands!
We do not doubt that our project is exactly what Blockchain users need today. The #MetaHash team provides relevant solutions to the urgent problems, based on the latest technological developments, on the analysis of modern market needs and on the belief in the bright future of the Blockchain!
