Published on: 2019-02-27T10:38:03+00:00
In a message thread, the possibility of implementing the Lightning Network (LN) on any cryptocurrency system, including plasma chain, has been explored. It has been suggested that as long as a cryptocurrency system supports certain functionalities such as multisignatures, hashlocks, and timelocks, LN can be built upon it. However, the Decker-Russell-Osuntokun payment channel requires an additional functionality known as `SIGHASH_NOINPUT`.One interesting insight is that a multiparticipant payment channel can be utilized to establish other payment channels, and Fulgurite is currently working towards this goal. While theoretically possible, the challenge lies in defining the necessary messages, ensuring extensibility of the system, and maintaining compatibility with the existing LN specification.Looking ahead, there is a vision to have a "full node" encompassing the main chain, at least one plasma chain, and LN installed on mobile phones. This would potentially eliminate the need for Simplified Payment Verification (SPV) or neutrino. In a group discussion, CD proposed running LN on top of a plasma chain instead of the main chain. This approach would create a plasma layer-2 solution and an LN layer-3 solution, which could have significant advantages in the long-term future.By incorporating at least one plasma chain and LN alongside the main chain, the idea is to enable the installation of a "full node" on mobile phones, eliminating the reliance on SPV or neutrino. This innovative concept could revolutionize the way transactions are conducted within the cryptocurrency ecosystem, paving the way for enhanced scalability and efficiency.
Updated on: 2023-07-31T21:28:00.322911+00:00