The lightning vulnerability was made public on Oct 9.
Lightning Network News
The Lightning Network is a payment protocol that works as a second layer on top of a blockchain. A large number of those in the cryptocurrency community suggested Lightning Network as a fix to Bitcoin’s scaling problem.
The Lightning Network opens a payment channel by setting up a multisignature wallet that holds some amount of cryptocurrency, and then a savings wallet address in the blockchain. Having a payment channel, parties can make an unlimited amount of transactions that are not made public in the blockchain. After all planned transactions are completed, the resulting balance is saved in the blockchain and parties can recover their share of the wallet. You can also use other payment channels or multiple channels to reach your partner, with the network finding the shortest way. Lightning is not as secure as the blockchain itself, but it may be widely adopted for small transactions, and it will reduce the strain on the blockchain, making it more scalable.
Larger payment channels on Bitcoin’s Lightning network could be exploited according to an independent developer5111
A digital shop for crypto users that boasts more than 35,000 products has announced that it now supports the Lightning Network.12928
DeFi’s growth has been propelled by the increasing popularity of yield farming and Bitcoin tokenization protocols, according to ConsenSys.2738
The Strike app hopes to encourage mass adoption of Bitcoin and the Lightning Network by connecting it directly to a bank account or debit card.11251
The Lightning Network is susceptible to attacks that could drain Bitcoin wallets by flooding the blockchain.8887
It’s no secret that cryptocurrency has a scaling issue, so we look at various ways either proof-of-work or proof-of-stake could be effective.6071
A single transaction today has created more Wrapped Bitcoin on the Ethereum network, than the total amount of BTC locked in the Lightning Network.25515
On Sunday, Lightning Labs CEO Elizabeth Stark explained why exchanges have been hesistant to integrate Bitcoin’s Lightning Network.11756
If Bitcoin does not hit $250,000 by early 2023, Tim Draper jokingly says he’ll eat a raw egg.28183
The total fees paid for on-chain Bitcoin transactions over the last 24 hours increased by over 50% today.5297
Vietnamese online ticketing agency Future.Travel now accepts Bitcoin payments via the Lightning Network, with funds being converted into local currency at the time of sale.4003
The Lightning-compatible Fold app has joined Visa’s Fintech Fast Track Program to roll out a co-branded Bitcoin cashback rewards card.7990
Blockchain firm Lightning Labs drafted a new Lightning Network-based authentication system that could replace traditional email-based accounts.2718
Self-styled Satoshi Nakamoto Craig Wright claims 2020 is the year the law comes for Bitcoin, which could spell trouble for Bitcoin miners and the Lightning Network.34269