Cryptocurrency

Use far below expectations: Has denied Bitcoins Lightning Network?

Bitcoins Lightning Network records since the summer, a strong decline in the use – by 50%.
The only proposed scaling method for Bitcoin had been in July, only BTC worth of 12 million dollars within the network. Now there are barely six million.
A large part of the value of the summer comes from a Person, LNBIG – had 336 Bitcoins on the LN. But it cost him too much: $ 5 million in the LN only brought 20 dollars.
This, apparently, broken incentive model and the overly complex method of application of the Lighting Networks strengthened.

Too complicated, not worth it

LN returns an error, if someone has a lot of outbound capacity, but no in-depth capacity, up to some of the funds will be spent. In this case, you must either first make a payment or a Service that opens a channel back to you.
Then there are Routing problems, in which the channels are not large enough to make payments, or to be forwarded. In this case, you need to connect to you directly, so that the LN is more likely to be a payment channel to a network.
Recently was discovered a bug in the LN, not once, it was examined whether or not the User actually owns Bitcoin. The error has since been fixed.
The use of the network is now gone so far that one can almost speak of irrelevance. This raises the question of how to Bitcoin stakeholders will scale the public Blockchain after it is obvious that LN has no solution.
An answer is not readily available. Both Peter Todd, as well as Gregory Maxwell, the main proponents of the Non-scaling of Bitcoin, they will not contribute apparently to the log encoding.
What is the approach to keep track of the current Bitcoin Coder, is unclear. But since Moore’s Law has progressed considerably, it seems to be clear is that you can add Bitcoins Base Layer is now some capacity.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.