Key points here on what we consider as "the Lightning Network" Also noteworthy: - it's one of many approaches to scaling without increasing L1 block size - its scaling mechanics means that it does not replace the need for onchain transactions, it simply optimises onchain usage (and in some cases has the potential to drastically do so) View quoted note →

Great read! Excellent write-up, @ODELL. Zapped.

Excited for what we can do to make it better 🤙

There's no need to introduce the concept of multiple lightning networks; it's unnecessary nuance. Lightning functions similarly to the Internet with many interconnections, some of which will not work reliably. Success is not guaranteed for custodial lightning providers that will be easy targets for regulators concerned about sanctions, terrorism, etc. The future of sovereign lightning operations has fewer embedded assumptions and (with good privacy practices) be able to effectively bypass regulatory clampdown around private payments. Continued operations will be highly valuable to be the steadfast, reliable, and counterparty-risk-free option in a world of traditional payments plagued by debt. Don't ignore the market incentives to improve the user experience for sovereign lightning because this market is gargantuan.

Yes, Lightning is the ethno-religious jew of Bitcoin. White but not white. A network layer 2 when its proponents market in public, individual failures when anything bad happens.

Agreed. I think if you might actually see an uptick in sovereign lightning routers if regulators seek to stamp it out.

I'm ready to hear Odell "lightning network(s)" corrections during RHR a long side Mempool(s) corrections now.

i think "the lightning network" is still a valid name.

just like how email is composed of multiple operators, the same can be said about the lightning network

#lnd why + when to use ! #tip #channel #rebalancing #submarine #swaps