reply on: Can someone explain the need for channels in a lightning node? \ stacker news ~lightning

0 sats \ 0 replies \ @ek 9 Sep \ on: Can someone explain the need for channels in a lightning node? lightning

I liked how @niftynei described in this interview on WBD that lightning is like scaling consensus down to two peers from global consensus in a blockchain.

So this means lightning channels exist to replace the expensive and slow consensus of a blockchain with consensus between only two peers which is faster and cheaper (but more complicated).