Author: Benjamin 2015-06-28 10:29:29
Published on: 2015-06-28T10:29:29+00:00
The author agrees that scaling Bitcoin in a naive way could lead to negative outcomes but acknowledges that it may have its advantages in terms of not changing the original system. They express skepticism towards Level2 and Lightning solutions, stating that even if money is moved within the constraints of a locked contract, it still does not solve the issues with off-chain transactions. The author argues that moving between off-chain and on-chain requires liquidity and a pricing mechanism, which is the same problem that arises with side-chains. Additionally, off-chain transactions on an exchange are subject to KYC/AML regulations.
Updated on: 2023-06-10T01:18:42.855923+00:00