Does the Lightning Network Threaten Bitcoin’s Censorship Resistance?
The Lightning Network may well be Bitcoin’s primary solution to the issue of scalability, but many skeptics believe there are unresolved issues with this layer-2 system for the blockchain. The possibility of too much centralization via so-called “supernodes” is one of the common criticisms of the Lightning Network, and attached to that is the fear of....
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Lightning Labs, one of the prominent companies working to realize the lightning network, announcedthis week the alpha release of the open-source lightning daemon they've been spearheading: LND. While only compatible with Bitcoin’s testnet so far, the software is relatively feature-complete and operational. “We’re now looking for the wider community to test the software,” Joseph Poon, Lightning Labs developer and co-author of the lightning network white paper, told Bitcoin Magazine. “To get it ready for widespread use, but also to explore new use cases this enables.” The Lightning Network.....
The founder of Bitcoin-based social media network Zion discusses censorship, Lightning nodes and the creator economy.
Smart contracts and digital currency pioneer Nick Szabo has added his voice to the Blockchain scaling debate, stating that the Blockchain itself cannot handle card network transaction numbers. Szabo: Periphery Network ‘Needed’. In a blog post Thursday, Szabo eloquently described the needs of Bitcoin’s blockchain in order for it to retain its core unique selling point: censorship resistance; or what he calls “automated integrity.” “…Sacrificing performance in order to achieve the security necessary for independent, seamlessly global, and automated integrity, mean that the Bitcoin blockchain....
Lightning developers discussed privacy concerns and the corresponding probable solutions for Bitcoin’s Lightning Network at the Bitcoin 2022 conference.
The Lightning Network is one of the most bullish developments that the Bitcoin ecosystem has seen so far. And all the available metrics point up, a healthy and vibrant network is brewing. However, investor Kevin Rooke took a deeper look and found out that the Lightning Network is probably even bigger than previously thought. “Inaccurate comparisons and privacy preserving features make it hard to truly understand how big the Lightning Network is.” Related Reading | Bitcoin Lightning Network Reaches Record Capacity What does Rooke mean by that? Let’s find out. The Lightning Network By....