| submitted by /u/6maud
I have attempted to set out some practical examples of how Lightning wallets could be used as I think this is an area which could benefit from better explanations, particularly for newcomers to Bitcoin.
In particular this graphic attempts to show how Lightning wallets will not 'lock up' funds in any practical sense, and will in fact operate very much like 'hot' spending wallets which we are already familiar with.
This post doesn't attempt to introduce all aspects of Lightning and does assume a basic understanding of the creation of channels, why it's trustless and how payments will be routed.
I hope this is helpful for some people and really happy to hear any comments and suggestions as to how it can be improved.
Graphic here: https://i.imgur.com/kJ94x5u.png
Recently I've asked someone to illustrate a few cryptocurrencies on a rocket going to the moon. I own the commercial rights for this image and wanted to share it with you, so that you can use it for whatever you want. For example if you ar…
Bitcoin Forum – Project Development