Published on: 2017-12-15T21:46:54+00:00
In an email exchange, Olaoluwa Osuntokun explains that collaborative routing in the Lightning Network is achieved through the use of routing hints in payment requests. He also mentions that BOLT03 specifies the exact script used for cooperative channel closes. The discussion touches on landmarks in routing algorithms, with SpeedyMurmurs using any node as a landmark while the Lightning Network requires all nodes to be aware of the same set of landmarks. The exchange also discusses value privacy and the challenges of achieving stronger notions of privacy while routing payments. The author suggests deploying different routing protocols based on specific use-case requirements rather than seeking a one-size-fits-all solution.The Lightning Network team is actively working on improving routing across the network. The current protocol can be upgraded in the future and addresses concerns about centralization and rebalancing mechanisms. The scalability and value of the Lightning Network are emphasized. Lastly, there is a suggestion for creating an inventory of unproven mathematical assumptions and cryptographic primitives related to cryptocurrency technologies to better respond to potential cryptanalytic surprises.Laolu explains two possible paths for updating channels - using a cooperative signature or a joint key. The paper discusses coordinate embedding and its use in providing sender+receiver privacy in payment networks. It compares the Lightning Network, an open-membership network, with credit networks like Ripple, which require initial configuration by central administrators. Researchers from Purdue University have developed SpeedyMurmurs, a routing algorithm for decentralized payment networks. It assigns meaningful coordinates to nodes, enabling efficient route discovery. SpeedyMurmurs outperforms other routing algorithms in terms of speed and communication overhead reduction while maintaining high payment success ratios. However, concerns remain about the fragility introduced by globally known landmarks.In another email exchange, Pedro raises questions about the Lightning Network's routing mechanisms. Christian responds by discussing the collaborative finding of routes and the plan to add landmarks in the long-term. PhD students at Purdue and the University of Waterloo have developed SpeedyMurmurs, a novel routing algorithm for lightning network. It assigns coordinates to nodes based on their neighbors' coordinates, available funds, and closeness to the receiver. Simulation results show that SpeedyMurmurs is faster, reduces communication overhead, and maintains high payment success ratios.In a discussion about Bitcoin and the Lightning Network, participants discuss creating an inventory of unproven mathematical assumptions and cryptographic primitives. They also discuss the possibility of changing the Lightning Network's routing protocol. Despite concerns about centralization, the network's scalability and value make it worth pursuing. Rebalancing channels can be done without disincentivizing their use, and opening additional channels may help with long-term imbalances. Transaction fees associated with channel setup and teardown are offset by reduced transaction fees overall. The Lightning Network aims to encourage participants to open channels that support the network.In another email exchange, Benjamin Mord suggests creating an inventory of unproven mathematical assumptions and cryptographic primitives to respond effectively to surprises in cryptocurrency technologies. Christian Decker discusses the current state of routing in the Lightning Network and the possibility of hubs forming. Off-chain channel rebalancing and reducing the load on the on-chain network are also discussed. In another email exchange, Ivan expresses concerns about scalability and centralization in the Lightning Network, which Ben addresses by suggesting off-chain channel rebalancing mechanisms. Transaction fees and the value and scalability of the Lightning Network are emphasized. On a Reddit thread, a commenter raises concerns about the Lightning Network's scalability, centralization, and security, arguing that it is currently a worse scaling solution than the blockchain itself.
Updated on: 2023-07-31T19:27:32.798990+00:00