Author: Adam Back 2015-06-28 12:37:57
Published on: 2015-06-28T12:37:57+00:00
In a discussion on June 28, 2015, Benjamin expressed concerns with scaling Bitcoin, stating that naive scaling could lead to negative consequences. Despite this, he acknowledged the potential advantage of not changing Bitcoin. Another participant in the conversation, Adam, argued for incremental and careful changes to ensure safety and security, while still allowing for useful improvements to be made. The topic then shifted to the concept of Level2 and Lightning, which Benjamin felt was not well defined and potentially unable to solve existing issues. However, Adam clarified that every lightning transaction is a valid bitcoin transaction, meaning funds can be reclaimed if necessary. He described Lightning as a write cache layer for Bitcoin, with no need to access the network unless hubs go offline permanently. Finally, Adam noted that people expected Lightning to function in a peer-to-peer manner similar to Bitcoin.
Updated on: 2023-06-10T01:18:51.832707+00:00