Antoine Riard, who left the Lightning Network in October, argues it is also at risk of becoming increasingly centralized and susceptible to single points of failure and censorship risks.
Lightning Network News
What is Lightning Network? The Lightning Network is a Bitcoin scalability solution. The Bitcoin Lightning Network operates as a layer-two transaction network involving payment channels separate from Bitcoin’s main blockchain, with transactions eventually being settled on the main blockchain.
Bitcoin can only handle approximately seven on-chain transactions per second, as opposed to some mainstream credit cards that frequently handle north of 1,000 TPS. Bitcoin transactions on the Lightning Network often cost less than on-chain transactions. Thanks to the Lightning Network, Bitcoin has added versatility amid increasing use. The Lightning Network white paper was first released in 2015, but its most recently updated version was released in 2016 and remains in draft form.
Apple is facing the wrath of crypto users yet again as a popular Bitcoin Lightning wallet disappeared from its U.S.-facing App Store.10747
Athena Bitcoin plans to integrate the Lightning Network into 100 of its machines in the next couple of months.3415
Football meets finance: Bitcoin payments integration arrives at top-flight Bulgarian club, Botev Plovdiv FC.3449
Advocates for the Bitcoin Lightning Network and decentralized protocol Nostr funded Kweks’ Kilimanjaro climb.4526
John Deaton’s remarks come amid concerns about alleged backdoors in the Bitcoin Lightning Network’s code.26106
Antoine Riard believes the Bitcoin community faces a “hard dilemma” as a new class of replacement cycling attacks threatens the Lightning Network.22707
Taproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director of business development at Lightning Labs.9487
Building a decentralized exchange on Bitcoin would be a “step backward,” for example, said Bitcoin developer Super Testnet.9802
A report from the Bitcoin-only exchange River suggests increased Lightning usage will play a key role in Bitcoin becoming a better medium of exchange.7884
This week’s Crypto Biz looks at PayPal’s crypto gateway, Franklin Templeton’s BTC ETF filing, Coinbase’s Lightning Network integration, and Meta’s plans for a new AI model.7349
To protect against routing attacks on the Lightning Network, utilize watchtowers, verify channel state changes, and prioritize well-established payment channels.1318
Lighting Network helps Bitcoin solve its scalability problem and compete against newer cryptocurrency projects that promise comparatively faster and cheaper transactions.11318
The Riga cypherpunk reunion convened around the Lightning Network, privacy and a strong anti-CBDC sentiment.2366
David Marcus says there’s still no universal protocol when it comes to transferring money, unlike information that can be shared via email.8449