Author: Benjamin 2015-06-28 19:40:20
Published on: 2015-06-28T19:40:20+00:00
The Lightning network is in its early stages and it is not resistant to a Sybil attack. It is not a drop-in replacement for Bitcoin anytime soon, as some imply. The larger the miner on the blockchain, the more trust is required to not collude or reverse payments. On the Lightning network, a large hub cannot steal money. Decentralization is not necessarily synonymous with trustlessness nor is centralization synonymous with trust-requiring when talking about something else. Payment channels could work between big financial institutions as a settlement layer, but this raises concerns about centralization and increasing the max block size. It is suggested that Blockstream should not pitch issues of their own tech for their for-profit enterprise.
Updated on: 2023-06-10T01:19:37.273264+00:00