What is the Lightning Network and will it help Bitcoin take business away from Ripple XRP

http://www.ThinkingCrypto.com High fees and long confirmation times have made Bitcoin lose a lot of its utility, resulting in less people using it for transactions. However, Bitcoin is moving to the Lightning Network which will make transactions faster and cheaper. What is the Lightning Network? A second layer solution that uses payment channels for rapid transactions and minimal fees. It is not exclusive to Bitcoin, other cryptos can use it as well. Think of the blockchain like a highway that can only fit a certain amount of cars on that highway at a given time. The Lightning Network builds a second layer on top of that highway to allow more cars (transactions) to free up room on the blockchain. Essentially making the blockchain less congested and allow Bitcoin to scale. With Bitcoin moving onto the lightning network, some folks are now saying Banks could use it which would steal business away from Ripple XRP. However, I don’t agree with this. Here’s why: No business (banks, money transfer companies etc.) would want to touch Bitcoin because of the tarnished brand, as Bitcoin has been used for money-laundering and other illegal activities. Ripple XRP is has a clean slate and has passed regulations and compliances. Ripple is also a company which has a public face versus Bitcoin which is not headed by anyone.Bitcoin does not solve the liquidity problem that XRP doesHere is what Jinal Surti, GTM Strategy and Product Marketing at Ripple said in response to the idea of Bitcoin taking business from Ripple:“Lightning Network = net settlement (banks already do this today with CLS). That does not solve the liquidity problem - you still need collateral. #XRP = on-demand, real-time gross settlement. That solves the liquidity problem - no collateral is required”

Sign up with Coinbase for Free to start investing in Bitcoin and get $10 free Bitcoin when you spend $100! - https://www.coinbase.com/join/59db057bed984302ff3b1275

Easily purchase Altcoins such as Ripple XRP, Cardano and more on the Binance exchange - https://www.binance.com/?ref=21575512

Get the Ledger Nano S to Safely store your Cryptocurrency! : -Buy directly from Ledger - https://www.ledgerwallet.com/r/acd6 -Buy on Amazon - http://amzn.to/2zYgdAv

Mine Bitcoin and other Cryptocurrencies Daily with HashFlare! Free to sign up! - https://hashflare.io/r/373CC8F3

Mine Bitcoin and other Cryptocurrencies with Genesis Mining. Use code "he76Rc" and get 3% off every purchase - https://www.genesis-mining.com/a/2126471

Help support the channel! Donations : BTC - 3GPcKwB3UGML4UiYqZM6BYx7Nu5Dj7GKDD ETH - 0x7929e49cabe8d95d31392eaf974f378b508da2f4 LTC - MWMhsyGX7tsTPGS2EtSCAWpy3ywCv25r6B XRP - rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv Destination Tag - 35594196

Follow on Facebook - https://www.facebook ... https://www.youtube.com/watch?v=yKMxDyPqu80