Eeyore often will get damaging viewers response on the Pooh Nook Tech Debates as his pessimistic worldview contrasts with the optimistic enthusiasm of most tech convention attendees. He began by – uncharacteristically – pandering to his viewers by telling folks that Lightning Community was a centralised resolution; this acquired a heckle “why does that trouble a legacy finance man such as you?”
After that weak begin Eeyore went on to ask who is definitely utilizing Lightning Community as we speak and to level out two main weaknesses:
- weak financial incentives to function a node. Even enthusiastic early adopters want financial incentives. Lightning Community solely works if individuals function nodes that present ample liquidity to make sure that fee transactions are accomplished. The inducement is routing charges. You’ll be able to read the details here however the backside line is a return of about 1% per 12 months, which too near extremely low danger/easy US Treasury Bonds.
- Different consensus mechanisms don’t have the identical Bitcoin Proof Of Work on-chain settlement flaws. Alternate options embrace Proof Of Stake on Ethereum and numerous types of Directed Acyclic Graph .
Eeyore ended his discuss by stating that over the past Bitcoin bear market in 2019, you might have seen Lightning Community as cool science challenge, however two years later after one other huge bull market, we are not any nearer to mainstream adoption.
Sufficient glass half empty pessimism. Subsequent week Tigger offers a extra bullish view in “be affected person it’s taking place and can change all the pieces”
Some topics are too advanced for our quick consideration spans, so we do four posts one week aside (see right here for 1,3, 4 some will not be revealed but), each quick sufficient to not lose your consideration however in mixture doing justice to the complexity of the topic. Keep tuned by subscribing.
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