Author: Joseph Poon 2015-08-11 18:30:47
Published on: 2015-08-11T18:30:47+00:00
A developer named Mats Jerratsch has created an implementation for a Lightning Network Payment-Hub + Client written in Java. However, Joseph Poon, a co-author of the Lightning Network white paper, has requested that it not be called an implementation for Lightning Network, as it is materially different in design and trust models. He suggests calling it "payment channel networks" instead. While acknowledging that a lot of the bitcoinj code can be used for further development, Poon notes that this network is no longer no-trust, but low-trust since Mats has made changes to the channel design to have everything working on the current Blockchain without the need for softforks. Poon also highlights several risks associated with payment channels, such as malleability risks with malicious servers, exit scamming, and an asymmetric playing field. Despite these risks, both Mats and Poon agree that payment channel-based systems have value because they allow for important transactions of higher value, leaving more space for everyday payments on the blockchain.
Updated on: 2023-05-23T19:13:33.478886+00:00