Is Lightning network really a hope for better scalability and low latency?
While Lightning Network payments are off-chain, they are not really removed from the blockchain. In fact, payments on the Lightning Network are merely creatively delayed Bitcoin transactions. 

The funds of a payment channel are held in a 2-of-2 multisig address. Since spending money from there requires the acquiescence of both parties, the payment channel partners can set the payout conditions in advance and then rely on them remaining unchanged.

However, they may renegotiate the payouts with each other in order to adjust the respective balances. Since this process only involves the two of them, it is practically instantaneous and by the order of the negotiation protocol still trustless. If the negotiation fails, or one of the channel partners becomes unresponsive, either channel partner can simply broadcast the latest state of the channel to the blockchain for execution.

While LN has different security trade-offs and a different network topology, I don't think that  "compromising security and decentralization" is an accurate description.