Monero vs Lightning (with bolt11 blinded path for the receiver)
Monero:
- Sender to know the sending address.
- The receiver knows that the sender is between 1 of the 16 addresses.
- Record is kept in the blockchain
- The amounts are hidden
Lightning:
- Sender does not know where the payment is sent.
- The receiver does not know where the payment comes from
- The amount of the payment and the receiver are encrypted.
- No record is kept in any blockchain
From here on there are many attacks that can be applied to Monero as well as to Lightning, but this is the initial situation.
Replies (17)
To send transaction on
Monero:
- Open wallet
- Scan/paste receiver address
- Eneter amount
- Send
Lightning:
- Create a node
- Open at least one sending cahnnel (pay the on chain fees)
- Hope that you haven't messed any of the settings and everything goes through
- For some unknown reason get a channel with less money than the one you opened
- Open wallet
- Scan/paste receiver address
- Eneter amount
- Send
You see what I am talking about?
Oh and I forgot that there is a possiblity that the other node goes ofline and you lose access to your funds
You have not used Zeus.
Full-Chain Membership Proofs (FCMPs) will replace rings in the Monero protocol to significantly improve sender privacy.
FCMPs will prove the output spent is one of any output on the chain, effectively removing risks associated with rings.
This will increase the anonymity set from 16 to 100,000,000.
Full-Chain Membership Proofs (FCMPs) will replace rings in the Monero protocol to significantly improve sender privacy.
FCMPs will prove the output spent is one of any output on the chain, effectively removing risks associated with rings.
This will increase the anonymity set from 16 to 100,000,000.
Cyph3rp9nk
Monero vs Lightning (with bolt11 blinded path for the receiver)
Monero:
- Sender to know the sending address.
- The receiver knows that the sender is between 1 of the 16 addresses.
- Record is kept in the blockchain
- The amounts are hidden
Lightning:
- Sender does not know where the payment is sent.
- The receiver does not know where the payment comes from
- The amount of the payment and the receiver are encrypted.
- No record is kept in any blockchain
From here on there are many attacks that can be applied to Monero as well as to Lightning, but this is the initial situation.
View quoted note →
Monero fan bois in disbelief
:its_over: it's over
I do. The opening channels part still applies
If you use their lsp Olympus does everything automatically and the channels are 0-conf, i.e. it opens immediately, so what you say is false.
Isn't olympus basically a node ran by them? So that makes non self custodian
Do you understand the term "open a channel with them"?
You have custody of your channel.
I don't understand what olympus is and how does it work. Is it basically a node that you connect to and it opens channels to other nodes you want to open channels to? If it works tjat way it still has the problem that it is centralized (if you only oprn a channel with them and not anyone else).
No, they open channel with whoever they want, the same as you. You open channels with whoever you want. And you have full custody of your money, regardless on whom you open a channel with.
There is no centralization here.
Yes, the Monero address you give to the sender is "known" (just like the invoice string you give to the sender for lightning is "known"), but it's unlinkable to the one-time stealth addresses that appear on the blockchain. Functionally the same thing.
Looking forward to FCMP++ replacing rings signatures and potentially bringing an L2 on Monero. One thing I like about lightning is it doesn't have a permanent public global ledger.
Embrace the privacy that Bitcoin offers at layer 2 and forget about shitcoins.
View quoted note →Maybe if you're using paper and pencil to send via Lightning, but contemporary lightning wallets handle all that shit. You literally just paste your invoice and hit send. And wallets like Breez handle all the channel BS on-the-fly in the background without any user intervention.
The wallets don't handle it all. The people behind the wallets do. (You rely on them)
