Author: Billy Tetrud 2022-03-01 05:39:36
Published on: 2022-03-01T05:39:36+00:00
The discussion on the bitcoin-dev mailing list involves various topics related to the scalability of Bitcoin and its sidechains, network effects of money, and the security of Lightning Network (LN) and Drivechains. One participant argues that money has strong network effects, and without side chains, people might switch entirely to some altcoin, which could lead to the insecurity of that coin being heavily exploited by attackers. Another participant argues that if all the chains are in the same monetary unit, the decentralized chain is always guaranteed to exist and the problem can be avoided completely. There is also a discussion about LN channel factories and their security risks. The participants discuss the possibility of onboarding new users via factories and the potential risks associated with it. They also compare the security of LN and Drivechains, arguing that there is a real degradation of security in Drivechains compared to LN. Despite the pandemic and everyone going online, Bitcoin blockchain feerates are still small, and people are not joining Bitcoin at a rate faster than Bitcoin + LN can handle it. Therefore, separating the onboarding rate from the payment rate is a good thing as it allows for designing different structures for each.
Updated on: 2023-06-15T16:39:39.992619+00:00